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Inventory Verification


Inventory Verification helps the company reduce the loss of inventory to a great extent, providing assurance to the management that the inventory reflected in the financials are reliable. Inventory is the most valuable asset of any company and is most susceptible to pilferage, fraud, wastage, or damage.

As per International Accounting Standards (IAS 2), inventories are the asset held for sale in the ordinary course of the business, In the process of production for resale, and in the form of materials or supplies to be consumed in the production process or the rendering of services. As per lAS 2. Inventories are measured or valued at a lower cost or net realizable value.

IAAS inventory Verification Services in the UAE are provided by Emirates Chartered Accountants Group by conducting verification of inventory with proper planning and expertise, thus validating the existence and location of the various inventory possessed by a company. Our Inventory verification service in the UAE includes the following:

* A physical count of the inventory based on different SKUs
* Marking the physically verified stock
* Identifying obsolete and damaged stock
* Ensuring supporting documents are maintained for each of the stock items available
* Identify the variances as per the inventory reflected in books