A Sharjah warehouse, workshop or distribution business lives and dies by its stock numbers. Auditors test what is on the shelf, what is in transit and what the supplier says you owe, so the books must tell the same story as the physical goods. Young & Right prepares the inventory, supplier and cost schedules and coordinates with your auditor. We do not give audit opinions; we make the information ready for the people who do.
Request a ConsultationStock valuation workpapers that agree quantities and costs to the ledger
Cut-off testing of goods received and goods dispatched around year-end
Supplier statement reconciliations, including foreign-currency balances
Landed-cost schedules linking freight, duty and clearing charges to inventory
Customer credit-limit and overdue-balance analysis for wholesale accounts
Answers to auditor queries on production costs, wastage and returns
Bring the closing trial balance, the stock count sheets signed by the people who counted, the warehouse system's stock report and the last month of purchase and sales invoices. Add import declarations, shipping documents, supplier statements, bank facility letters and the licence showing which authority regulates the premises. If part of your stock sits in a free zone, include the lease or storage agreement and the transfer paperwork between zones.
Most stock problems at audit time come from a small number of causes. Goods are delivered on the last day of the year but invoiced the next. A pallet is counted twice in two aisles. The warehouse system holds a quantity the ledger values at an old price. We lay out each of these tests in a worksheet and run them ahead of the auditor, so you meet the question with an answer rather than a surprise.
Businesses in Sharjah may hold a licence from the Sharjah Economic Development Department (SEDD), or operate through zones such as SAIF Zone, Hamriyah Free Zone or SPC Free Zone. Each authority has its own licence conditions and its own expectations on reporting, and a company that trades both inside and outside a zone needs records that separate the two. Rules differ by authority, so we confirm what applies to your licence rather than assuming it.
Many of our clients import components from several countries and sell locally and abroad. That creates exchange differences, customs charges and timing gaps between shipment and invoice, all of which belong in the audit file.
Currency matters too. A supplier statement in euros or dollars rarely agrees to a dirham ledger unless the exchange rate on each invoice and each payment is recorded. We prepare a short note showing the rates used, which saves the auditor from recalculating dozens of lines.
We begin with a short review of last year's audit file and the current ledgers. Next comes a gap list that names every schedule still missing and the person responsible for each. Over the following weeks we build the schedules, chase supplier statements and update the list in a shared tracker. Your auditor receives a tidy pack with an index, which saves time during fieldwork and usually leads to fewer follow-up questions.
Throughout, we keep a log of questions we have asked you and the answers received. That log travels with the file, so your auditor sees what was checked and what remains open.
We can help plan the count, design the count sheets and review the results afterwards. The auditor decides whether to observe the count and what evidence is needed.
It adds a layer, because each licence may carry its own reporting expectations. Keeping separate ledgers or clear cost centres for each activity makes the auditor's work simpler.
No. Young & Right is not an audit firm for this purpose, and the report must come from an eligible independent auditor. Our role is the preparation and the coordination.
Ideally a few weeks before year-end, so the count can be planned. If year-end has passed, we can still build the schedules from the records you hold.
Tell us what you trade, where the stock is held and which authority licenses the business. We will suggest a practical plan for the schedules, the count and the handover to your auditor.
