What context can I use each word in?
Learn when and how to use these words with these examples!
stocktaking
Example
The store manager conducted a thorough stocktaking to ensure that all items were accounted for. [stocktaking: noun]
Example
We need to do a stocktaking of our office supplies to see what we need to order. [stocktaking: gerund or present participle]
audit
Example
The accounting firm conducted an audit of the company's financial statements. [audit: noun]
Example
We need to audit our security protocols to ensure that they are up to date. [audit: verb]
Good things to know
Which word is more common?
Audit is more commonly used than stocktaking in everyday language, especially in the context of finance and accounting. However, stocktaking is still an important term in the retail and inventory management industries.
Whatโs the difference in the tone of formality between stocktaking and audit?
Audit is generally considered a more formal term than stocktaking, as it is often associated with financial and accounting practices in a professional setting.
