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Inventory Audit: A Detailed Guide
Audits, in general, take time and require manual labour, but they provide an in-depth look into a company’s financial situation. Companies may audit their inventory/stock to double-check the number of products on hand when it comes to commerce.
Stock audits, damaged products audits, distributor audits, expiry audits, physical verifications, fixed asset verifications, and asset tagging are all various terms used commonly for inventory audits.
When you or an auditor conducts an inventory audit, you or the auditor examines the inventory processes and verifies that the financial records and the actual count of products meet. These audits are essential for maintaining inventory accuracy, identifying wastage reasons, and ensuring that you always have the proper amount of product at the right time.
Inventory audits can be conducted by the company or by an outside auditor at least once a year as part of the overall financial statement audit to uncover any issues with the company’s inventory storage and accounting systems.
We, Emblaze are a leading provider of Inventory Audits in Kochi, Kerala, and Chennai. We take care of your fixed assets as usual, and all you have to do is submit the inputs, which are reflected in the records right away. We help you better manage and control your inventory, and we’re committed to delivering results so you can focus on more vital aspects of your organization.
Our services include the following:
● Audit of inventory and damaged products
● Stock inspection and reporting on a regular basis
● Maintenance of Fixed Assets records and stock verification
● Accounting records are checked on a regular basis for appropriateness and completeness.
An effective stock audit can help you identify inventory items that are slow-moving, damaged, or obsolete, as well as help you avoid fraud and blunders. Also assists in calculating profit, generating realistic budgets, detecting inefficiencies, and optimizing stock control. Contact us on +91 999 549 2484 or give a quote at mail@emblazetcs.com for further assistance.
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