Inventory Audit, scoped around your position.
Verify physical stock, detect discrepancies and improve asset tracking with precise inventory audit procedures.
An inventory review compares physical quantities, system records and valuation support at a defined date. The scope should state locations, ownership, count procedures, sampling and how differences will be investigated.
Reviewed against current official guidanceContent review date: 2026-08-30. The official authority remains the source of truth for eligibility, deadlines, fees and processing.
When this service may be relevant
Physical and ledger quantities do not reconcile
A year-end count needs independent observation support
Slow-moving or obsolete stock requires analysis
Management is strengthening warehouse controls
Records to prepare
Item master and inventory ledger
Location and bin reports
Purchase, production and sales movement reports
Count instructions and prior variance reports
Expected work products
- 01Count plan and sample selection
- 02Observed quantity and variance schedule
- 03Cut-off testing summary
- 04Control and reconciliation recommendations
Important scope limits
- A scoped inventory review is not automatically a financial-statement audit
- Ownership and goods-in-transit require separate evidence
- Valuation conclusions depend on cost and impairment data
Primary sourceFederal Tax Authority — Corporate Tax
Check the authority page for the latest service rules and published procedures.
Open official guidance