An inventory audit is an accounting process that documents a company’s total count of physical goods or a stock opname. While many may be frightened by the term ‘audit‘, it’s an essential aspect of maintaining a healthy business. since it is necessary for businesses to stay healthy and succeed. Any company with one or multiple locations that stock a large amount of physical goods should be routinely audited.
Why do I need Inventory Audit?
Management can get proper and valid information of their inventories. Often management finds uncertainties with inventories balance which must be dealt with and questions like these will arise:
What are the leak of my inventories?
Uncertainties of inventory balance or on hand
Are there other inventory adjustments that may reduce uncertainty of profit or loss?
What is the provision needed for future situation?
What is the product of Logiframe Inventory Audit?
Our strength is the wealth of accounting experience we have in helping our clients manage these inventories complex events. From our extensive professional and technical resources, we provide the following:
Report on management over leakage of internal controls on inventory process