Inventory Auditing

Inventory auditing is the process of verifying and reviewing a company's stock of goods to ensure accuracy. It involves counting physical items and comparing them to recorded numbers in financial systems. This helps identify discrepancies such as missing items or overstock, ensuring that the business has an accurate view of its inventory. Regular audits help businesses manage their resources effectively, prevent losses, and make informed decisions about purchasing or production, ultimately improving profitability and operational efficiency.