Stock Audit

Stock Audit

A Stock Audit is a systematic verification and evaluation of an organisation’s inventory, including raw materials, work-in-progress, finished goods, and stores. The objective is to ensure that stock records are accurate, complete, and reflect the actual physical inventory.

Stock Audits help businesses identify discrepancies between recorded and actual stock, detect pilferage or misappropriation, evaluate inventory valuation methods, and ensure compliance with accounting standards. They are essential for improving inventory management, optimising working capital, reducing losses, and providing reliable data for financial reporting and decision-making.

Why Choose Us for Stock Audit

1. Physical Verification & Reconciliation

We conduct a thorough physical count of inventory and reconcile it with accounting records, ensuring discrepancies are identified and quantified accurately.

2. Review of Stock Management Systems

We examine your stock recording procedures, ERP/software entries, and documentation to evaluate the reliability and accuracy of inventory data.

3. Identification of Pilferage, Losses & Discrepancies

Our audit methodology focuses on detecting shrinkage, theft, overstatements, understatements, obsolete stock, and valuation errors.

4. Evaluation of Inventory Valuation & Compliance

We assess methods used for stock valuation (FIFO, weighted average, LIFO, etc.) and ensure compliance with accounting standards and statutory requirements.

5. Process Controls & Operational Efficiency

We review procedures related to procurement, storage, handling, issue, and movement of stock to identify inefficiencies or control gaps.

6. Detailed Reporting & Actionable Recommendations

Our report provides a clear analysis of discrepancies, financial impact, and practical suggestions for process improvements, better inventory control, and minimisation of losses.

7. Industry Expertise

With experience across manufacturing, trading, retail, FMCG, and service sectors, we understand sector-specific inventory challenges and deliver audits tailored to your business.

8. Transparent, Independent & Reliable

We provide an unbiased, professional assessment that management and stakeholders can rely on for decision-making, statutory reporting, and operational improvements