Stock Audit Services That Verify What You Actually Hold
Your balance sheet says one number, but your warehouse may tell a different story. ABM Chartered Accountants delivers independent stock audits that count what you have, check how it is valued, and identify where losses are occurring.
Independent Verification of Your Stock Position
Stock is often one of the largest assets on a company’s balance sheet, yet it is also one of the most vulnerable to error, misstatement, and loss. A stock audit independently verifies that what your records say you hold matches what physically exists. ABM Chartered Accountants delivers that verification with thoroughness and precision.
Our ICAEW and ACCA qualified accountants attend your premises, observe or conduct physical stock counts, test your valuation methods against FRS 102 requirements, assess your stock control systems, investigate shrinkage, and deliver a clear report that tells you exactly where your stock position stands.
What Our Stock Audit Covers
From physical verification to shrinkage analysis, here is how ABM Chartered Accountants gives you independent assurance that your stock records reflect what you actually hold.
Physical Stock Verification
Attending your premises to independently count, inspect, and verify physical stock quantities.
Valuation Review
Reviewing how stock is valued in your accounts to confirm it meets accounting standard requirements.
Stock Control Assessment
Evaluating your stock management systems to identify weaknesses in how inventory is tracked.
Shrinkage Analysis
Investigating the causes of stock losses including theft, damage, waste, and recording errors.
Year-End Count Attendance
Attending and observing your year-end stock count to provide independent assurance on quantities.
Stock Reporting
Delivering a clear audit report on your stock position with findings and practical recommendations.
Know Exactly What You Have and What It Is Worth
Overstated stock inflates your profits and your balance sheet. Understated stock means you are paying more tax than you should. Uncontrolled shrinkage erodes your margins without you realising it. A stock audit from ABM Chartered Accountants gives you the accurate picture you need to make sound financial decisions and report correctly.
For businesses undergoing a statutory audit, stock verification is a key procedure. For businesses involved in a sale or acquisition, accurate stock figures directly affect the deal price. And for any business that holds inventory, regular stock audits strengthen your controls and reduce the risk of loss.
Stock Audits for Businesses of Every Size Nationwide
Based in Canary Wharf, London, ABM Chartered Accountants delivers stock audit services to businesses throughout the UK. We attend your warehouses, stores, and sites wherever they are located.
Stock Audits for Every Inventory-Holding Sector
We audit stock for businesses in retail, wholesale, manufacturing, e-commerce, food and drink, construction, automotive, and pharmaceuticals. Each sector has its own stock risks, and our audit approach covers them.
Why Businesses Choose ABM for Stock Audits
Chartered Stock Auditors
ICAEW and ACCA qualified verifying your stock position.
On-Site and Hands-On
We attend your premises and count stock ourselves.
Losses Identified and Explained
Shrinkage causes found with clear corrective steps.
How We Work
Initial Consultation
Set Up and Onboard
Ongoing Support
We provide regular reviews and proactive advice to keep your finances optimised and HMRC-compliant.
Get in Touch Today
Whether you need help with your tax return, payroll, VAT, or business advisory, our qualified UK accountants are ready to provide clear, practical guidance for your specific needs.
Book a Consultation
Fill in the form below and one of our expert accountants will contact you promptly to discuss your accounting and tax requirements.
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Frequently Asked Questions
Here are answers to the stock audit questions we hear most often. Contact our team for tailored guidance.
What is a stock audit?
A stock audit is an independent verification of the inventory your business holds. It compares the quantities recorded in your stock system against what physically exists, reviews how stock is valued in your accounts, and identifies any discrepancies, losses, or control weaknesses.
When should we have a stock audit?
Most businesses carry out a stock audit at their financial year end. However, you may also need one if you are buying or selling a business, if your auditors require independent stock verification, if you suspect theft or loss, or if your stock figures look unreliable.
How is stock valued for audit purposes?
Under FRS 102, stock must be valued at the lower of cost and estimated selling price less costs to complete and sell. ABM Chartered Accountants reviews your valuation method and checks that obsolete, slow-moving, or damaged stock is written down to its net realisable value.
What causes stock shrinkage?
Stock shrinkage is caused by theft, damage, spoilage, waste, supplier short deliveries, and recording errors. A stock audit identifies the scale of the problem and helps you understand where the losses are occurring so you can put controls in place to reduce them going forward.
Do you attend our year-end stock count?
Yes. We attend your premises to observe the stock count process, test count a sample of items, check your count procedures, and verify that the final figures are supported by the physical count. This is a standard requirement for most statutory audits involving material stock balances.
How much does a stock audit cost?
Fees depend on the number of stock locations, the volume and variety of inventory, and the complexity of your valuation methods. We offer transparent, fixed-fee pricing agreed before the audit begins. Contact ABM Chartered Accountants for a quote for your business.