M006, Omar Mohd Bin Dhaher Bldg, Al Qusais 1, Dubai, U.A.E.
+ 971 4 33393651
NAK Auditing L.L.C. provides official Stock Audit Services in Dubai to offer businesses of all sizes transparency, compliance, and accuracy of their inventory. Also called inventory audits, stock audits are important for confirming the presence of physical inventory with the accounting records and assist businesses in identifying discrepancies or minimising losses caused by damage or theft and enhancing the internal controls.
An effective stock audit undertaken at NAK Auditing L.L.C incorporates:
→On-site physical verification of inventory (warehouses, outlets)
→Agreement of stock counted with company records.
→Excess, shortage, slow-moving or obsolete stock is identified.
Provided, yes, you should know about the Stock Audit, or the Inventory Audit. In the majority of cases, physical goods that are kept in the warehouses are sold by the company. The suppliers or some of the logistics teams collect the orders and forward them to distribution centres, where the ordered goods are kept. Goods have a way of travelling to the customers in accordance with their availability.
The retailers should regularly check that the supply chain requires that the goods available in the supply chain are in line with the sales and inventory records. To put it in another way, Stock Audit is a situation in which a discrepancy in the quantity of goods might exist, investigate the reason and make the necessary preparations.
This meeting covers Stock Audits and services offered in Dubai.
A Stock Audit or an Inventory Audit can be described as verifying the availability of goods at the warehouse location of a store against the result of the stock records.
The Stock Audits are carried out in an organisation or with the help of external auditors, who provide the best clarity in the end. Whether to do a self-audit or employ an external auditor to do the stock audit of your business is your own decision, unless it is a legal process. Using the services of professionals who provide Stock Audit services in Dubai to prepare a good report of your stocks is a sure and time-saving alternative you might consider.
Such businesses that rely on physical goods ought to be well-informed of how to carry out the stock audits. The reviews arranged with these audits are more important in the case of eCommerce operations, as these products may be stored in different warehouses and logistic centres located in different countries. Therefore, Stock Audit can be considered as the only option when it comes to accessing and managing the products.
The following are the major strengths of Stock Audit:
→ The stock audit is linked directly to making a profit calculation.
→ The stock audit allows you to increase the profitability of the business.
→The adequate management of the stocks aids in the detection of fraud or theft.
One of the notable methods adopted by a business is the Stock Audit, which reflects the financial status of the firm. Furthermore, a profound stock audit will assist in the resolution of the existing problems and avoid future ones. Get the best stock audit services in Dubai, UAE now!
The Services related to Stock or Inventory Audit make the control, protection, and management of the stock possible. The primary aim of a stock audit is to bring about clarity, survival and authority, therefore, the value of the items.
Effective Stock Audit requires planning, resources and expertise. The auditors of the stock at NAK Auditing L.L.C allow the stock to be checked, thereby providing a better understanding and insight into the stock and proper adjustment of the current records of the stock.
NAK Auditing L.L.C possesses very learned and seasoned stock auditors to conduct stock auditing in low volume. NAK Auditing L.L.C. is one of the most preferred and recommended stock audit service providers in Dubai that offers high levels of awareness and forecasts of the stock, and has the appropriate reconciliation of stock accounts. NAK Auditing L.L.C. team offers Stock Audit services to guarantee the correctness and accuracy of the stock.
Here are some common questions about Stock Audit
Yes, regularly stock audits are important to most businesses and especially those which are covered by VAT. Stock audits can also be done in cases of free zone customs and free zone banks to comply, finance or renew license.
Make sure that there is proper compliance of VAT through reconciliation of stock and input/output tax credit.
Identify and stop loss of stock, fraud or misreporting.
Offer confidence to the banks and investors in financing or investments.
Assist in operation performance and efficient inventory control.
The stock audits are usually performed once a year, though there could also be some surprise or cycle count audits done by the company and conducted during the year since in this way the stock accuracy and control will always be under control.
Continued control through Internal Stock Audits.
Regulatory or financing external Audits.
Random Audits to detect abnormalities.
Financial reporting and VAT return accuracy Annual Closing Stock Audits.
Defining audit scope (warehouses, SKU categories) Planning.
Checking inventory records and purchase/sales records.
Barcode scanners/RFID Physical counting.
Balance between records and physical inventory.
Pricing the stock by the costing techniques (FIFO, weighted average).
Reporting differences and suggestions.
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