Procurement & Inventory Audit

Procurement & Inventory Audit

A Procurement & Inventory Audit is a systematic review of a company’s purchasing processes and inventory management to ensure accuracy, efficiency, and compliance with internal policies and regulatory requirements.

Key Points:

Evaluates procurement procedures, vendor selection, and purchase approvals.

Reviews inventory records, stock levels, and reconciliation with financial statements.

Identifies discrepancies, inefficiencies, or potential fraud in procurement and inventory management.

Ensures compliance with UAE regulations and corporate policies.

Purpose:

The audit helps businesses optimize procurement and inventory practices, improve internal controls, reduce costs, and maintain accurate financial reporting, supporting operational efficiency and regulatory compliance.