Fixed asset verification confirms that assets in the register exist, are in use and are recorded at the right location. Tagging makes future verification faster and reduces losses.
Scope of service
- Physical verification and tagging
- Reconciliation with the asset register and books
- Identification of idle, obsolete or untraceable assets
- Update of the register with location and custodian
Regulatory framework
- Companies (Auditor's Report) Order requirements on physical verification
- Schedule II, Companies Act, 2013 — useful lives
- Ind AS 16 / AS 10
Typical professional activities
- Verification plan by location
- Barcode or QR tagging
- Exception report
Applicable industries
Relevant articles and resources
The information on this page describes the nature of the service. It is not advice on any specific matter. See the disclaimer.