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Limited Company (Ltd./Pvt.Ltd.)
Year of Establishment
2005
Annual Turnover
Rs. 5 - 10 Crore
Indiamart Member Since
Jun 2018
Inventory Store Audit
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Type Of Service Provider | Consulting Firm |
Type Of Industry Business | Inventory Store Audit |
Requirement Type | Corporate |
Location Type | Pan India |
Payment Mode | Online |
What are Stock Audits?
- Stock audits check to ensure that financial records match a company’s stock records and that those records align with a physical stock count. As part of that physical count, employees go through every item in the warehouse, typically with the assistance of technology that adds up and records products on hand. Audits add another piece to this, bringing in a third party to confirm not only the quantity of stock but also its quality and condition — and identify any instances of theft, damage, or misplacement.
Why are Stock Audits Required?
- Stocks are the most valuable asset for any business and also highly susceptible to pilferage, damage, expiry, and wastage. The objective of a Stock Audit is to ensure the existence, accuracy, ownership rights and also verify the realizable value of the items in the company’s inventory. Accurate accounting of stock is also essential to a robust bookkeeping system and MIS reporting. Since the stock has a lot of movement during business days, the process of routine physical verification needs proper planning, resource mobilization and expertise.
* Our team of experts can assist you in stock verification and provide more insights into your stock, along with a proper reconciliation of the existing stock records. Through our stock verification and valuation services, we identify the excess/shortage of materials in stock and identify the old/damaged materials in inventory. It helps the management to reduce wastage and losses arising due to damage or obsolescence stock.
Which Companies are required to do Stock Audit? * The Companies (Auditor’s Report) Order, 2016 (CARO 2016) also requires auditors to comment on “Whether physical verification of stock has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so, whether they have been properly dealt with in the books of account. Companies into manufacturing of any type of stock must get their stock periodically verified. Also, Companies having multiple distributors and retail outlets, must ascertain checks at all levels to know discrepancies if any.
- Stock audits check to ensure that financial records match a company’s stock records and that those records align with a physical stock count. As part of that physical count, employees go through every item in the warehouse, typically with the assistance of technology that adds up and records products on hand. Audits add another piece to this, bringing in a third party to confirm not only the quantity of stock but also its quality and condition — and identify any instances of theft, damage, or misplacement.
Why are Stock Audits Required?
- Stocks are the most valuable asset for any business and also highly susceptible to pilferage, damage, expiry, and wastage. The objective of a Stock Audit is to ensure the existence, accuracy, ownership rights and also verify the realizable value of the items in the company’s inventory. Accurate accounting of stock is also essential to a robust bookkeeping system and MIS reporting. Since the stock has a lot of movement during business days, the process of routine physical verification needs proper planning, resource mobilization and expertise.
* Our team of experts can assist you in stock verification and provide more insights into your stock, along with a proper reconciliation of the existing stock records. Through our stock verification and valuation services, we identify the excess/shortage of materials in stock and identify the old/damaged materials in inventory. It helps the management to reduce wastage and losses arising due to damage or obsolescence stock.
Which Companies are required to do Stock Audit? * The Companies (Auditor’s Report) Order, 2016 (CARO 2016) also requires auditors to comment on “Whether physical verification of stock has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so, whether they have been properly dealt with in the books of account. Companies into manufacturing of any type of stock must get their stock periodically verified. Also, Companies having multiple distributors and retail outlets, must ascertain checks at all levels to know discrepancies if any.
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Product Specification
Type Of Service Provider | Consulting Firm |
Type Of Industry Business | Inventory Store Audit |
Requirement Type | Corporate |
Location Type | Pan India |
Payment Mode | Online |
Product Description
What are Stock Audits?
Why are Stock Audits Required?
Which Companies are required to do Stock Audit?
- Stock audits check to ensure that financial records match a company's stock records and that those records align with a physical stock count. As part of that physical count, employees go through every item in the warehouse, typically with the assistance of technology that adds up and records products on hand. Audits add another piece to this, bringing in a third party to confirm not only the quantity of stock but also its quality and condition — and identify any instances of theft, damage, or misplacement.
Why are Stock Audits Required?
- Stocks are the most valuable asset for any business and also highly susceptible to pilferage, damage, expiry, and wastage. The objective of a Stock Audit is to ensure the existence, accuracy, ownership rights and also verify the realizable value of the items in the company's inventory. Accurate accounting of stock is also essential to a robust bookkeeping system and MIS reporting. Since the stock has a lot of movement during business days, the process of routine physical verification needs proper planning, resource mobilization and expertise.
- Our team of experts can assist you in stock verification and provide more insights into your stock, along with a proper reconciliation of the existing stock records. Through our stock verification and valuation services, we identify the excess/shortage of materials in stock and identify the old/damaged materials in inventory. It helps the management to reduce wastage and losses arising due to damage or obsolescence stock.
Which Companies are required to do Stock Audit?
- The Companies (Auditor's Report) Order, 2016 (CARO 2016) also requires auditors to comment on "Whether physical verification of stock has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so, whether they have been properly dealt with in the books of account". Companies into manufacturing of any type of stock must get their stock periodically verified. Also, Companies having multiple distributors and retail outlets, must ascertain checks at all levels to know discrepancies if any.
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About the Company
Year of Establishment2005
Legal Status of FirmLimited Company (Ltd./Pvt.Ltd.)
Nature of BusinessService Provider
Number of Employees51 To 100 People
Annual TurnoverRs. 5 - 10 Crore
IndiaMART Member SinceJune 2018
GST07AABCE6781E1ZN
Eminence is a leading management consulting firm providing audit, survey and research services. to Large Corporate's, Telecom Infra Providers, Active Equipment Manufacturers, Telco’s, and Internet Service Providers PAN India. Having its presence in the market since 15 successive years, Eminence has been adding value to the customer’s value chain by strategically working with them for asset and inventory verification, comprehensive audits, online and physical survey.
Seller Contact Details
Tejpal Arya
C-61/2, Ground Floor, Arjun Nagar, Safdarjung Enclave Extn, South West, Green Park Delhi - 110029, India
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