Internal Audit Executive – Medical Stores / Pharmacy

Department: Internal Audit / Finance & Operations
Designation: Internal Audit Executive – Medical Stores
Reporting To: Operation Manager
Location: Head Office and All Store Locations
Experience: 2–5 years in pharmacy, medical stores, inventory audit, or internal audit

Key Responsibilities

1. Inventory and Stock Audit

- Conduct periodic physical stock verification across all medical stores.
- Reconcile physical stock with system stock and identify shortages, excess stock, and unexplained variances.
- Verify batch numbers, expiry dates, damaged goods, and near-expiry medicines.
- Review slow-moving, non-moving, and obsolete inventory.
- Investigate stock adjustments, negative stock, and unusual inventory movements.
- Verify inter-store stock transfers and goods received from suppliers.

2. Purchase and Vendor Audit

- Verify purchase orders, supplier invoices, goods receipt notes (GRNs), and purchase entries.
- Check purchase rates against approved price lists and purchase agreements.
- Review purchase returns, credit notes, discounts, schemes, and free-of-cost goods.
- Identify duplicate invoices, unauthorized purchases, and potential procurement irregularities.

3. Sales and Billing Audit

- Verify sales transactions, discounts, returns, cancellations, and credit sales.
- Check whether billing is supported by actual stock movement.
- Review manual bills, cancelled invoices, refunds, and unauthorized discounts.
- Reconcile sales reports with inventory movement and cash/UPI/card collections.

4. Cash and Financial Controls

- Verify daily cash closing, cash deposits, and payment collection records.
- Reconcile cash, card, UPI, and other payment modes with system reports and bank deposits.
- Identify cash shortages, excess collections, delayed deposits, and unauthorized transactions.
- Check petty cash expenses and supporting bills.

5. Expiry, Returns, and Regulatory Compliance

- Verify expiry and near-expiry medicine management procedures.
- Check segregation and documentation of expired, damaged, recalled, and returned medicines.




- Review supplier returns and expiry-related credit claims.
- Verify applicable pharmacy and drug-sale licence requirements, recordkeeping, and other regulatory controls.
- Check compliance with applicable requirements for prescription medicines and controlled or specially regulated drugs, wherever relevant.

6. SOP and Process Compliance

- Ensure all stores follow approved operational procedures and company policies.
- Review access controls, user permissions, stock adjustment approvals, and master-data changes.
- Verify adherence to purchase, sales, inventory, cash-handling, and return procedures.
- Identify control weaknesses and recommend corrective and preventive actions.

7. Audit Reporting and Follow-up

- Prepare store-wise audit reports highlighting findings, financial impact, and risk levels.
- Share audit observations with management and relevant department heads.
- Maintain an audit tracker for discrepancies and corrective actions.
- Conduct follow-up audits to confirm closure of previous observations.
- Escalate suspected fraud, material losses, or serious compliance violations promptly.

8. Multi-Store Audit Management

- Prepare monthly and quarterly audit plans covering all company-operated stores.
- Conduct surprise audits where required by management.
- Track audit coverage, stock variance, expiry losses, cash discrepancies, and compliance scores.
- Travel to different store locations as required.

Required Qualifications

- B.Com, M.Com, BBA, MBA (Finance), or equivalent qualification.
- Experience in internal audit, pharmacy operations, retail inventory, or finance controls is desirable.

Required Skills

- Strong knowledge of inventory reconciliation and stock verification.
- Understanding of purchase, sales, billing, and cash controls.
- Proficiency in MS Excel,



including PivotTables, lookups, and reconciliation reports.
- Experience with pharmacy billing software, ERP, or inventory management systems.
- Analytical thinking, attention to detail, and report-writing skills.
- Professional communication and the ability to handle multiple store audits.
- High integrity, confidentiality, and independence.

Key Performance Indicators (KPIs)

- Percentage of stores audited against the approved audit plan.
- Accuracy of physical stock versus system stock.
- Value of stock shortages and unexplained variances identified.
- Expiry and damage losses as a percentage of inventory or sales.
- Cash and billing discrepancies identified and resolved.
- Percentage of audit observations closed within the agreed timeline.
- Reduction in recurring audit findings.
- Compliance with company SOPs and applicable regulations.

Working Conditions

- Regular travel to medical stores and pharmacy outlets.
- Physical stock counting and verification, including during surprise audits.
- Periodic reporting to senior management.
- Independence from store operations while conducting audits.

Ideal Candidate Profile

The ideal candidate should be detail-oriented, ethical, analytical, and capable of independently auditing multiple medical stores. The candidate must be able to identify operational and financial risks, quantify discrepancies, communicate findings professionally, and ensure corrective actions are implemented.

Important: The Internal Audit Executive must report audit findings objectively and should not be solely responsible for the purchasing, stock adjustment, or cash-handling activities being audited.

Pay: ₹20,000.00 - ₹32,000.00 per month

Perks:

- Health insurance
- Life insurance
- Paid sick time
- Paid time off
- Provident Fund

Education:

- Bachelor's (Required)

Experience:

- Healthcare/ Pharma : 2 years (Required)
- Stock Audit Check: 2 years (Required)
- Audit Report: 2 years (Required)
- Billing Software Knowledge: 2 years (Required)

Willingness to travel:

- 75% (Required)

Work Location: In person

📌 Internal Audit Executive – Medical Stores (Bengaluru)
🏢 Macis Ipharma india
📍 Bengaluru