What Is Stock Audit?
Physical verification of inventory is known as stock audit. Stock audit should be performed by a business
or an organization at least once in a financial year. Stock audit is very necessary for the businesses
having multiple branches and contains massive stock of physical goods. Your stock will never be
understocked or overstocked, if you order the right quantity at the right price at the right time and
through the right source. Stock and physical assets such as raw material, physical equipment, machinery
etc. are very important for a businesses & needs to be checked again.
Stock audit is conducted by the stock auditors to ensure –
1. The correctness of stock value
2. To know the current condition of stock
3. To obtain assurance about the physical existence.
4. To know how many items are under or over stock?
5. To check whether the reported stock is matching with the actual stock.
6. To check the loss, theft or misappropriation in the stock.
7. To make proper control over stock.
What Is Included In Our Package?
Aspects Taken Care Of While Performing Stock Audit
Following aspects should be taken care of while performing the stock audit
1. Verification of Physical stock
2. Verification of stock valuation
3. Verification of stock register
4. Reporting on discrepancy
5. Comparison of financial records with stock register
6. Valuation & verification of stock-in-transit.
SS Auditors provides wide range of auditing services including the stock audit. In relation to stock audit, we
provide quality audit services to different businesses at a minimum cost.
Benefits Of Stock Audit Services
1. More than 10 years of experience
2. Qualified professionals
3. Excellent customer service
4. Cost efficient
5. Customer delight
6. Time saving
7. Quick turnaround time
8. Continuous support over e-mail and phone (24X7)