Agreement Paper

This agreement has been entered on 1st Shrawan 2071 between M/s Alive Pharmaceuticals Pvt. Ltd.
Head Office Mangladevi Bishal Bazar Biratanagar Factory Site at Duhabi Sunsari (hereinafter called the
Company) and Mr. Subhash Sangraula resident of Biratnagar C/O A. Bansal and Associates
(hereinafter called auditor) about the system audit and Internal Audit as per the following scope of work
and terms of agreement.
1. Scope of Work
a) Raw Material, Packing Material and Stores Material
-Verification of Entries Purchase, Stock, Gate IN & Out, Issue Slips, Damaged and Rejection
Closing stocks entries from stock register
- Verify the purchase quantity with the records of head office accounts.
- Verify the consumption qty with the Production Batch Report.
- Verify the Expiry Goods if any
- Verify the Report prepared by Factory Representative with the stock register
- Periodic Physical Verification of different items in each quarter so as to cover all the goods
within the whole year
b) Finished Goods
- Verify the Finished Goods register at Factory with Batch production report and Stock transfer
challan. ( Normally there shall be no closing stock in factory0029
- Verify the stock in records at head office with stock transfer challans
- Verify the sale entries in stock register
- Verify the Reports with the Stock Registers
- Verify the Damage and Expiry goods and their treatment.
- Physical verification of Finished Goods at head office of different items in each quarter so as
to cover all the goods within the whole year
c) Verify the GATE Entry and Gate pass register
d) Verify the Returnable Stores items
e) Verify the Diesel Consumption Per Hour
f)

Verify the wages payment sheets about the rates, calculation and days with attendance register.

g) Accounting Issues
- Cash and Journal Vouchers Checking
-100%
Quaterly Basis
- Indian Party Accounts Reconciliation and Confirmations
6 Monthly Basis
- Scrutiny of Accounts Banks and Loans Verification
Quaterly Basis
- Sales Ageing Report
Quaterly Basis
- Sales Party Confirmation
6 Monthly Basis
- Verification of Salary Chart of Head Office with Rules and AttendanceQuaterly Basis
2. Company has defined above scope of work and auditor has accepted to undertake the work and
report the findings and observation on due time and provide the suggestion for improvements.
3. The company may suggest their requirements about the internal audit, if any other than specified
above.

4. Periodic meeting as per need shall be held to discuss on the reports.

5. Auditor shall apply his best auditing practices, held meetings and discussion with different personnel.
6. Company shall provide all documents and records for the necessary verification.
7. Auditor has been appointed on retainer ship basis. His remuneration shall be Rs. 12500/- per month
and payable on quarterly basis. Company shall provide necessary facility or reasonable cost to visit
factory area during the course of internal audit.
8. This agreement shall be valid for initial one (1) year and may be renewed by the consent of both the
parties with our without amendments in the terms. Either party can cancel the agreement with prior
notice of at least 3 months.

For and on behalf of

Alive Pharmaceuticals Pvt. Ltd.

For
Internal Auditor

.
Sri Subarna Bhakta Joshi
CEO

Mr. Subhash Sangraula

Witness
1. CA Aswani Bansal
2. Mr.

..