What is a Stock Audit in the UAE?
A stock audit or stock-taking involves physically verifying the inventory at regular intervals. Typically conducted at the end of the financial year, inventory verification is essential to confirm that the physical stock matches the recorded stock. AARMAK’s stock audits are carried out by highly experienced auditors, ensuring thorough and accurate results.
Chief Objectives of Stock Audits
Stock audits are conducted to ensure that the physical inventory aligns with the recorded stock in your books. Inventory verification also helps in identifying discrepancies or obsolescence before the financial year-end audit.
The key objectives of stock audit services in Dubai are:
- Verifying the accuracy of inventory records
- Proving the existence of inventory
- Determining the realizable value of the stock
- Identifying fraud, theft, or loss of goods
- Detecting system weaknesses
- Preparing the final accounts
Benefits of Stock Audit Services in the UAE
By conducting stock audits with AARMAK’s expert auditors, businesses can achieve the following benefits:
- Identifying surplus or shortages in inventory
- Detecting obsolete or damaged goods
- Enhancing internal control over inventory
- Reducing wastage and losses due to fraud or damage
Our Role in Inventory Audits in the UAE
AARMAK provides comprehensive inventory audit services in Dubai, including:
- Physical stock count
- Identification of obsolete and damaged stock
- Stock reconciliation
- Marking physically verified stock
- Inventory valuation
- Inventory accounting
- Assistance with inventory coding and categorization
Our Strengths as the Leading Stock Auditors in Dubai, UAE
AARMAK is a trusted name in the UAE stock audit landscape, and our strengths include:
- Over 20 years of experience in the UAE
- A team of highly qualified chartered accountants
- Expertise across diverse sectors and industries
- Highly trained and professional staff
- Use of the latest technologies
- Timely and accurate reporting
- Customer-centric approach
- Strong reputation with government bodies, banks, and free zone authorities