Stock Audit Services in Dubai, UAE
IQFA’s stock audit services in Dubai ensure accurate inventory reporting, aligning book records with physical stock. Trusted across industries, these audits help prevent fraud, reduce loss, and support compliance.
Stock Audit Benefits:
- Enhanced financial accuracy
- Improved inventory management
- Stronger internal controls
- Support for external audit UAE compliance
Contact IQFA Chartered Accountants
For expert support in IFRS advisory, forensic audit, AUP, or stock audits, partner with one of the top audit firms in UAE. Let’s ensure your financial systems are compliant, transparent, and strategically aligned.
Stock Audit Services by IQFA Chartered Accountants
What is a Stock Audit?
A stock audit is the systematic verification of a company’s physical inventory against its accounting records. It evaluates inventory quantity, quality, condition, and value to ensure consistency between actual stock and book records.
Audit Frequency:
- Bi-annually: Internal audits for operational oversight
- Annually: External audits for statutory compliance in line with UAE standards
Types of Stock Audit
Internal Stock Audit (Every 6 months)
- Detect discrepancies or damages
- Analyze inventory turnover (slow vs. fast-moving)
- Maintain Minimum Stock Quantity (MSQ)
External Stock Audit (Year-end)
- Validate inventory for financial reporting
- Enhance transparency for stakeholders
- Prevent inventory misstatement
Objectives of a Stock Audit
- Ensure accurate financial records
- Confirm inventory ownership and condition
- Prevent fraud and stock mismanagement
- Comply with IFRS advisory services in Dubai
- Optimize inventory levels and reduce holding costs
Stock Audit Process
Step Description
- Data Collection (stock records, books, prior reports)
- Audit Planning (schedule, auditor presence)
- Team Assignment (department-wise allocation)
- Categorization (by type or value)
- Counting Methodology (manual/barcode)
- Reconciliation (physical vs. recorded stock)
- Quality Inspection (expired/damaged goods)
- Reporting (findings and observations)
- Recommendations (control improvements)
- Policy Updates (implement auditor feedback)
Why Choose IQFA?
- Industry-specific audit approach
- UAE law and IFRS-compliant practices
- Minimized shrinkage and losses
- Independent and professional audit execution
- Actionable insights to improve inventory control
Schedule your stock audit with IQFA today.