Hubbell Policies

• Evidence that the count status is up to date and no items remain “overdue . ” The report should be run on the last day of the quarter, confirming the count status is current.

• Notification of any disruptions or temporary stoppages to the cycle count program.

ADMINISTRATION

Roles and Responsibilities. Responsibility for the ongoing compliance to the requirements of a location’s cycle count program must be a designee, independent of operations, for each location.

Monitoring, Evaluation and Review. Internal Audit conducts periodic reviews of cycle count program compliance in accordance with SOX key control requirements and verification of the accuracy of perpetual inventory records for locations certified under this program. The Director, Internal Audit can direct additional evaluation and review.

Exceptions. All exceptions to the requirements outlined in this Policy must be approved by the Director, Internal Audit.

ACCOUNTING AND DISCLOSURE. None

REPORTING None

DEFINITIONS None

RELATED DOCUMENTS (Policies, Guidelines, Standards)

FIN-18 Cycle Count Reserve Policy FIN-34 Physical Inventory Policy

• •

• Exhibit A-1 - Weekly Composite Accuracy Rate • Exhibit A-2 – Cycle Count Accuracy Examples • Exhibit B-1 – Composite Accuracy Rate Examples • Exhibit B-2 – Composite Accuracy Rate Examples VERSION

Version

Approval

Effective 2014.08.01 2019.08.15 2021.02.25

Changes

1 2 3

J. Capozzoli, A. Hsieh, S. Mais J. Capozzoli, K. Lane, S. Mais J. Del Nero, K. Lane, S. Mais

Original Issue

Conformed to new template

Frequency of cycle count and process change

68