What is stock audit & Risk audit

Question

Accepted Answer

Stock audit is the physical verification of inventory while risk audit is the assessment of potential risks to the organization.

Stock audit involves counting and verifying the physical existence of inventory items.
Risk audit involves identifying and assessing potential risks to the organization, such as financial, operational, or reputational risks.
Stock audit helps ensure accurate inventory records and prevent theft or mismanagement of inventory.
Risk audit helps the organization identify and mitigate potential risks before they become major issues.
Both audits are important for ensuring the overall health and success of the organization.

What is stock audit &amp; Risk audit