Stock Audits
Stock Audits in the UAE
If you control the inventory (stock), you can control the profits. Al Fakher Accounting provides the best stock audit services in Dubai to let companies have control over their inventories.
Stock or inventory is one of the most valuable assets of your company. However, it is vulnerable to pilferage, damage, expiry, wastage or fraud. Our inventory verification services in Dubai will help businesses minimize the loss of stock to a great extent.
Al Fakher Accounting’s stock auditors in the UAE can provide assurance to the management that the inventory reflected in the financial statements can be trusted.
What is a Stock Audit in the UAE?
A stock audit or stock-taking in the UAE involves the process of physically checking the stock of goods at regular intervals. Inventory verification in the UAE is performed periodically, typically at the end of the financial year. Al Fakher Accounting’s stock audits are performed by the best auditors in Dubai who are highly qualified and experienced.
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Chief Objective of Stock Audits
Businesses conduct stock-taking in the UAE to ensure the physical inventory is matching with the book stock. The inventory verification helps the management to properly adjust the differences and obsolescence before the year-end financial audit in the UAE.
The main objectives of stock audit services in Dubai can be summarized as:
Verify whether the inventory records are accurate
Prove the existence of inventory
Determine the realizable value of the stock
Find out any fraud, theft or loss of goods
Find out any weakness in the system
Prepare the final accounts
Benefits of Stock Audit Services in the UAE
Taking stock of your inventory through Al Fakher Accounting’s top auditors in Dubai will help you achieve the following benefits:
Identify surplus/shortage of goods in the inventory
Identify obsolete or damaged goods in the inventory
Achieve better internal control over the stock-taking process
Reduce wastage and losses resulting from fraud or damage
Chief Objective of Stock Audits
Our Role in Inventory Audits in the UAE
We have entrusted our best auditors in the UAE to carry out the stock audit. Inventory audit services in Dubai provided by Al Fakher Accounting include the following elements:
Presenting the physical count of the stock
Identifying obsolete and damaged stock
Stock reconciliation
Marking of physically verified stock
Inventory valuation
Inventory accounting
Inventory coding & categorization assistance
Our Strength as the Best Stock Auditors in Dubai, UAE
Al Fakher Accounting is a leader in the UAE stock auditing landscape. Our strengths include:
More than two decades of experience in the UAE
A team of highly qualified Chartered Accountants
Experience in a wide range of sectors and industries
Highly trained staff
Employs the latest technologies
Timely reporting
Customer-centric approach
The highly reputed client base
Good reputation before the government, banks and free zone authorities