Fixed Assets Audit

Why Asset Verification?

Among many reasons associated with the need for physical verification of fixed assets, here are a few major ones :

  • Presentating a true and fair statement of Fixed Assets.

  • Statutory and Regulatory compliance.

  • Audit compliance.

  • Synchronization of FAR with Physical status.

  • Better control and Accountability.

  • During Mergers and Acquisition transactions

Why Asset Barcoding?

Verifying assets manually could be efficient if the number of assets are less, but for corporates having large number of assets at diverse locations, verifying the assets manually becomes errorprone and inefficient. Tagging the asset with a barcode or RFID tag can bring in efficiency by ensuring

  • Automation in the verification process.

  • Tracking of asset movement.

  • Reliable and accurate verification.

  • Individual identity of each asset.

  • Locating an asset becomes easy.

  • Reduced time and efforts in asset verification significantly.

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