Oh no, it’s stocktaking time again!
AssuranceStocktaking is far more than an accounting chore. When done thoughtfully, it becomes an effective tool for control, accuracy, and fraud prevention — and can be managed far more efficiently.
Meelika’s balanced approach, consistency and work ethic are the main reasons she is so well-regarded as an audit manager. The fact that she relishes solving complicated issues comes as an additional merit in her position.
Meelika came to Grant Thornton Baltic in 2013. In addition to auditing companies, financial accounting and financial analysis, her daily work includes planning audits, project management, and supervising the audit team. Meelika is also a member of our quality control team.
It is very important to Meelika and her audit team to regularly exceed the clients’ expectations.
Stocktaking is far more than an accounting chore. When done thoughtfully, it becomes an effective tool for control, accuracy, and fraud prevention — and can be managed far more efficiently.
A stock-taking or physical inventory performed in a quality manner gives the heads of all units in a company assurance that financial statements and databases present a true and fair view of assets and inventories in stock. Periodic stock-taking is also quite effective for preventing fraud.
Stock-taking quality depends on preparation for and performing of the physical inventory. In the following, I will provide an overview of what to devote attention to while performing it.