Absolutely. In the Air Force, if your end product ends up on the flightline, every tool box is shadowed, every tool has its specific inventory number, every box has an inventory sheet, and every box is inventoried before and after every job. If you're a back shop, at the beginning and end of every shift. Jet engines are like very expensive vacuum cleaners. Sucked up random objects (like misplaced tools) play havoc on them, and they're very expensive to fix. Almost weekly (sometimes more often) an AF flightline gets shut down for a "lost object"...and a "lost object reports" go straight to the maintenance commander (colonel). They're normally lacking in the sense of humor department. I would hope similarly strict standards are held at civilian airports.

EDIT: I didn't intend to be vague when I said the "flightline gets shut down." That means NOTHING moves until THAT tool is found (or the commander deems that all leaves have been turned). Flight hours lost, flight training for the day is disrupted....a very big deal. The sole mission of the Air Force in peacetime is to prepare for war...and a lost object brings it all to a halt..