Stock Audits – Inventory Verification & Process Control Reviews
Stock Audits, also known as Inventory Audits, are critical for businesses that rely heavily on stock management and inventory controls. They help verify the physical existence of stock, assess its valuation, and ensure that inventory records are accurate and in sync with the financial statements.
We offer comprehensive stock audit services for manufacturers, traders, retailers, and warehouses. Our audit process covers physical verification of inventory, checking stock movement records, valuation as per applicable accounting standards, and assessing compliance with internal controls and bank guidelines.
We conduct stock audits for companies as a regular internal control measure as well as for external reporting requirements such as bank stock statements, lending covenants, and due diligence assessments. Our objective is to identify discrepancies in stock records, detect pilferage or wastage, and suggest improvements in inventory management systems.
With a structured audit methodology and industry-specific expertise, we help businesses maintain accurate inventory records, improve stock handling processes, and ensure that lenders and stakeholders receive reliable inventory data for decision-making.
Frequently Asked Questions (FAQs)
Stock audits ensure inventory records are accurate, help in identifying losses, and validate stock values for financial reporting and compliance with lending institutions.
While not legally mandatory for all, stock audits are often required by banks for businesses with fund-based or non-fund-based credit facilities, and are recommended for internal controls.
Stock audits can be conducted quarterly, half-yearly, or annually depending on business volume, industry practices, and lending institution requirements.
Stock audits cover physical verification, stock movement analysis, valuation methods, control checks, and compliance with internal stock handling procedures.
Audit & Assurance
- Statutory Audits (Companies Act)
- Internal Audits
- Tax Audits (Income Tax Act)
- Bank Audits (Statutory & Concurrent)
- Forensic Audits
- Management/Operational Audits
- Stock Audits
- Due Diligence Reviews
- System & Process Audits
- ESG/CSR Audits
- Trust & NGO Audits
- Startup Audits
- Municipal Corporation Audits
- CAG Audits
- PSU Audits
- Social Audits (MNREGA, etc.)
- Autonomous Body Audits
- Co-operative Society Audits
- Parliament-tabled Audit Reports
- PSE Audits
CA. Dhiraj Jain
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