Stock Audit

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 06, 2023

Stores lying in the store on a given date are known as stock. Thus, stores and stock convey the same meanings in every sense of the term.

Stock audit refers to the physical verification of stock based on the maintained records. Thus, the audit used for a company's stock involves verifying and detecting discrepancies (if any), finding deviations, and reporting accordingly.

Stock audit and stock verification are two terms that convey the same meanings. As such, in most accounting dictionaries, the two terms are used interchangeably.

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.