CORAA handles the most time-consuming procedures in manufacturing audits, inventory reconciliation, revenue cut-off, CARO 2020 extraction, and vendor analysis, all from a single Tally import.
Inventory and multi-location operations layer onto every standard audit.
Manufacturing clients add inventory complexity, multi-location operations, and multi-rate GST onto the standard audit checklist.
Inventory valuation
Costing complexity
FIFO or weighted average costing across raw materials, WIP, and finished goods. Valuation at cost or NRV. Slow-moving and obsolete stock provisioning. Each element requires data extraction and verification.
Year-end cut-off
Revenue cut-off
Manufacturing companies dispatch goods throughout December and January. Accurate revenue cut-off requires tracing each late-December dispatch against the invoice date, POD, and accounting entry.
Clause coverage
CARO 2020 reporting
All non-small companies must comply with CARO 2020. For manufacturing, key clauses include: physical verification of inventory, charges on assets, immovable property, statutory dues, and related party transactions.
ITC reconciliation
Multi-rate GST
Manufacturing clients often have inputs taxed at multiple GST rates. ITC reconciliation requires matching GSTR-2B with books across multiple product lines and HSN codes.
How Coraa addresses them
One Tally import. all procedures run simultaneously.
Inventory movement analysis, purchases, consumption, closing stock reconciliation
Revenue cut-off testing, dispatches near year-end vs sales ledger
Fixed asset capitalisation review, capex vs opex classification
CARO 2020 data extraction across all relevant clauses
Vendor payment analysis, round numbers, related parties, new vendors
