Stock Audit

Stock Audit in UAE

Inventory Audit is an essential part of Inventory Management. This is also called Inventory Verification services. Stock Audit services in UAE will help in monitoring, protecting, and supervising the stock. UAE being one of the international spots for exports and imports maintains a lot of stock. Therefore, it is important to conduct inventory audit to make sure that the stocks recorded are matched to the physical sock. Stock Audit services in UAE will help in analysing and recording the stock accurately.

The factors that determine the requirement of Inventory Audit for a company are:
  • The volume of stock: large amount of stock which includes raw materials, finished goods, and other assets.
  • Type of goods: The inventory must be measured at its Net Realizable Value.
  • Good placed at third-party warehouse: Inventory audit is required as the stock will be stored in third-party warehouse in UAE.
  • Inventory Management Process: There should be a proper internal and external inventory audit.

At HALSCA, we carry out Stock Audit on behalf of banks and other financial institutions to ensure that the collateral against which funds are lent by the bank to the clients is valued correctly. We follow various stock (inventory) audit procedures subject to size and complexity like physical count, adequacy of sample size, confirmation from other locations, due consideration to high value items, inventory count to the general ledger, inventory check in transit, review of cost (material cost, labour cost, carriage in-ward costs, overhead cost), compare with market rate, valuation of finished goods, application of inventory valuation systems (FIFO, LIFO) etc.We also evaluate procurement process, analyze supply and demand situation, re-ordering level, identify slow moving items, related internal controls etc.

HALSCA will provide you with the best Stock Audit Services in Dubai. Our team has experience in conducting internal and external inventory audit. Our inventory report will help to take the stress away from our clients in relation to inventory management. We have helped multiple clients to get a good hold of their inventory management procedure. Contact us for the best Stock Audit services in UAE.