A stock audit refers to the verification process of inventory and stocks lying with a business on a certain date to determine existence, condition, valuation, ownership and title. It reconciles physical stock counts with stock records.
Stock audits ensure stocks are safeguarded, recorded and valued accurately in financial statements. They detect issues like pilferages, expired items, insurance risks early.
Corporate tax is levied on both domestic as well as foreign companies which are not registered in India but have their operations and generate income in India. There are many Tax Incentives like setting up businesses in Tax-Free Zones, Export Oriented Units, and in SEZs (Special Economic Zones) are growing with several interpretations and documentation
Either internal audit team or external consultants conduct these periodically or surprise checks to assess inventory management efficiency, storage risks etc.
Physically inspecting, counting, measuring, quality checking stocks as per audit plan through appropriate techniques. Conducting year-end inventory observation.
Yes, we provide a good quality stock audit services of your choice. Contact us for more details.
It depends on your business needs. Some companies do it quarterly, others annually. High-volume or high-value businesses may even opt for monthly cycle counts to maintain tighter control.
The duration depends on the size of your inventory, number of locations, and complexity. Small warehouses may take a day or two, while larger setups might require a week or more.
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