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Inventory Management Audit

Conducting an Inventory Audit in the UAE

An Inventory Audit is an integral part of Inventory management. The UAE is an international hub for exports and imports; hence, many companies maintain physical stock of items. Conducting an inventory audit ensures that the stock written in the financial books is verified against the physical stock tally. Auditing firms in Dubai help companies analyze their stock accurately. Read on to find out more.

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Inventory audit in uae

Some factors that determine your company requires an Inventory audit are:

1. The volume of stock

If the stock of raw materials, finished goods, or other assets cannot be counted and verified by a single person counting by hand, you need an inventory audit procedure.

2. The type of goods

Suppose the type of goods volume is required to be verified by law. According to the IAS 2, inventory must be measured at its Net Realisable Value.

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Inventory Audit Procedure in Dubai

Inventory Audit Procedure in Dubai

Farahat and Co is your partner in conducting an internal inventory audit or an external inventory audit for your company. Every company has a different size and volume of goods they manage, and hence we understand the same and provide a custom inventory audit process for our clients. Our inventory audit report aims to reduce our client's stress when it comes to errors in inventory management and the subsequent rise in working capital. Analytical ratios such as inventory turnover ratio or unit costs of inventory are a crucial part of the financial analysis of the stock. Here is how it works:

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Inventory audit services

Increase Your Profits with an Inventory Audit in Dubai

Conducting an inventory audit in Dubai aims to reduce losses due to erroneous inventory accounting and poor inventory management. Farahat and Co is one of the leading inventory audit companies that has been conducting internal and external audits for companies across the UAE.

Our team of qualified expert auditors are keen analysts who have helped clients regain a stronghold in their inventory management procedure. We use the latest inventory audit software and support all types of enterprises to accurately remodel their procurements and supply chain approach based on a customized checklist.

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