Stock Audit Overview

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?

Eligibility Consultation

Document Preparation

Application Drafting

Government Fees

Aspects Taken Care Of While Performing Stock Audit

Following aspects should be taken care of while performing the stock audit

  • Verification of Physical stock
  • Verification of stock valuation
  • Verification of stock register
  • Reporting on discrepancy
  • Comparison of financial records with stock register
  • Valuation & verification of stock-in-transit.

Finacbooks 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.

Concurrent Audit Services Benefits

  • More than 10 years of experience
  • Qualified professionals
  • Excellent customer service
  • Cost efficient
  • Customer delight
  • Time saving
  • Quick turnaround time
  • Continuous support over e-mail and phone (24X7).

Concurrent Audit FAQ’S

Physical verification of inventory performed by a business or organization once in a financial year is known as stock audit.
Yes, it is necessary for the big businesses having multiple branches and contains big stock of physical goods to do stock audit.
Your stock will never be understocked or overstocked, if you will order the right quantity at the right price at the right time and through the right source.
Stock & physical assets like raw material, physical equipment, machinery etc. is to be verified while doing stock audit.
You must take care of the following things while doing stock audit –
  1. Verification of stock valuation
  2. Verification of stock register
  3. Verification of physical stock
  4. Discrepancy reporting
  5. Valuation and verification of stock in transit
  6. Comparison between financial records and stock register.
Finacbooks is one of the leading Indian firms with more than 10 years of experience in helping small, medium & large businesses by providing them professional stock auditors so that they can make proper control over their stock. To avail the best deals on stock audit service, kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com
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