Posted by Greetings from Classic Associates ! Tuticorin
At Classic Associates we provide the best Stock Audit Services.
Stock audit or inventory audit may be a term that refers to physical verification of a corporation or institution’s inventory assets.Every business must perform an audit once a year to update and make sure that the physical stock and therefore the computed stock match
Reasons for performing a stock audit:
The stock audit is important to scale back unnecessary investment on stocks and to make sure that you simply have a correct line balancing within the process. High levels of stock generally end in unnecessary overstocking thus leading to poor cash flows and loss.
Benefits of stock audit to an organization:
1. Reduced cost and bottom-line improvement.
2. Prevention of pilferage and fraud.
3. Accurate information on inventory value.
4. Reduced gaps in the inventory management processes.
5. Special arrangements for third party opinion.
6. The great control mechanism in running the business.
Inventory is one of the important area of any business where chances of fraud are more as its a department where thefts and damages occur. Having strong controls, proper processes, checklist and regular stock audit is important for this function.
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Auditing Office at : Tuticorin (HO) | Coimbatore (BO) | Chennai (BO)
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