Stock Auditing

Stock auditing is the process of verifying the accuracy of a company’s inventory records. It involves physically counting items in stock and comparing these counts to the numbers recorded in financial documents. The goal is to ensure that the inventory reflects the actual goods available for sale, noting discrepancies that could indicate theft, loss, or errors in record-keeping. This practice helps businesses manage costs, improve financial reporting, and maintain accountability, ultimately contributing to better decision-making and operational efficiency. Regular stock audits are essential for maintaining trust with stakeholders and ensuring accurate financial health.