Dear SSM
The checklist seems good... But who will do this and what is the periodicity you fixed for it??? I think it's the safety officer to do on a daily basis and sign on the paper... I understand the same from the document... But it should not be the job of a safety officer... Let's do our part only and let others do thier role... Your job finish when you make such a checklist... Further it's upto the health professionals in your company... May be a compounder or nurse... Let the Medical Officer to accountable to ensure the things are in well manner... Let him and his supporting staff to do this checking and signing in this document...
Also about the periodicity, I think you can fix it once in a week or after every use for emergency... It's of no use to increase the work load in such a way that it will become only a paper work...
This is my suggestion only...