What is Stock Audit?
Stores lying in the store on a given date Known as stock. Thus stores and stock convey the same meanings in every sense of the term. Stock audit refers to physical verification of stock with the stores records maintained. Thus, the audit is nothing but verification if there is any, detection of those discrepancies, finding the deviations, etc. and report accordingly. Stock Audit and Stores verification are two terms conveying the same meaning for the purpose and in the sense in which both the terms are used. Thus, both in ‘materials dictionary’ are one and the same terms.