What are the key steps involved in a stock audit process?

A stock audit process involves verifying a company's inventory to ensure accuracy and compliance with financial records. It starts with planning, where stock audit companies assess inventory records and set audit objectives. Physical verification follows, checking stock levels against recorded data. Discrepancies are analyzed to identify errors or fraud. Auditors then review documentation, including purchase orders and invoices, to validate stock movement. Finally, a detailed report is prepared, helping businesses maintain transparency and improve inventory management efficiency.