What is Stock Audit & Why Businesses Need It? An inventory audit/ stock audit is an analytical procedure that helps businesses to have a clear picture of synchronization between financial and inventory records. The main purpose of performing the stock audit is to avail accurate updates on the inventory in order to avoid stock-out circumstances. An inventory audit is more than a necessity for the re tail industry nowadays —it is a proven method to find out the current state of stocks, provide an insight to identify any scarcity, and also helps in ensuring that you’ll always have sufficient stocks at any time. Why Business Need to Perform Stock Audit? When it comes to selling goods, businesses prefer auditing their stocks on time- whether it’s for tax purposes or just to get an idea about the number of units on hand. Stock Audit is always more than a necessity for retail businesses. We understand the importance of inventory for a business, and therefore, we help them main...