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Fixed Asset Inventory Verification

Posted @ May 13, 2018, 10:00 am under (Fixed Assets Verification)

The Process involved in conducting Fixed Asset Inventory Verification

The fixed asset inventory verification is an annual exercise for most of the companies. The verification process is often carried out as a routine exercise and the results are seldom compared with the objective set by the management to ensure actual count of assets and clearing up the inventory of impaired assets from Fixed Assets Register (FAR).

Whereas there is a need to give due importance to the fixed assets inventory verification process due to its direct impacts on the sustainability of business in long run. Hence, periodic review of the existing fixed asset policy and verification activity is very important.

Generally, during new projects, our clients want to understand how the asset verification process is being performed. Our team leaders explain them flow of verification process followed by Amit Arun & Associates. 

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