Inventory Audit

What is an Inventory Audit?

An Inventory Audit is the systematic evaluation of a company’s inventory records against physical inventory. It helps verify that the quantities and values recorded in the books accurately reflect the actual stock on hand. It also identifies losses, pilferage, mismanagement, or outdated stock.

In the UAE, inventory audits are particularly crucial for:

Financial Reporting Accuracy
Corporate and VAT Compliance
Internal Control Strengthening
Annual Audit Readiness

Stock Valuation Accuracy

Key aspects of our Inventory Verification Services include:

Stock Reconciliation: Comparing physical inventory against recorded amounts to identify and resolve discrepancies.
Inventory Records Review: Verifying the accuracy and completeness of all inventory documentation and records.
Stock Categorization: Organizing inventory into appropriate categories for effective management and reporting.
Stock Coding: Implementing consistent and precise coding systems to streamline inventory tracking.
Stock Valuation: Assessing the value of inventory to ensure accurate financial reporting and asset management.
Physical Stock Reporting: Generating detailed reports on physical inventory to support accurate financial analysis and operational decision-making.

Benefits of an Inventory Audit

Accurate Financial Reporting
Ensure your inventory valuation aligns with accounting standards and boosts balance sheet credibility.
Enhanced Profitability
Detect slow-moving or obsolete items and improve purchasing and warehousing strategies.
Improved Stock Control
Identify overstocking, understocking, and theft—leading to optimized inventory levels.
Regulatory Compliance
Support corporate tax filings, VAT assessments, and external audits with verified inventory data.
Better Decision-Making
Use clean, real-time data to make informed decisions about procurement, pricing, and sales.

Why Choose Hisab for Inventory Audit?

Experienced Audit Professionals – Skilled in physical verification, internal controls, and industry-specific inventory systems
Technology-Driven Approach – Use of inventory management tools, barcoding systems, and data analytics
Customized Audit Plans – Tailored to the size, complexity, and risk level of your inventory operations
Confidential & Independent – Unbiased audit services delivered with strict confidentiality and professionalism
Full Regulatory Support – Aligned with UAE Tax Laws, IFRS, and FTA compliance requirements

Let's discuss your project

Office Address

Harmain Building (SBK Real Estate Building - Office #52 - near Emirates Gas - Ajman Industrial 2 - Ajman

Phone Numbers

+971 52 278 6001

Email Addresses

Info@hisabtax.com