Asset Verification

Our Clients - Asset Verification, Asset Audit, Asset Register, Asset Reconciliation and Asset Tagging

All private and public entities are required to conduct an annual physical count of all fixed assets to verify actual assets in hand and value and ensure the accuracy of related financial records.

Some of our esteemed clients

ASSIGNMENT

COUNTRY

NATURE OF WORK

Christian Blind Mission (CBM)

Kenya

Assets Verification, Reconciliation, Tagging and Register Development.
Ujamaa Africa

Kenya

Assets Tagging.
Kenya Ferry Services

Kenya

Assets Verification Reconciliation and Tagging
Ghana-Re Reinsurance

Kenya

Assets Tagging, Reconciliation, Verification and Asset Register Development
Living Water Africa

Kenya

Assets Tagging
Careers Directions Limited

Kenya

Assets Verification, Reconciliation,Tagging and Asset Register Development

Asset Tagging

Use of Spreadsheet

While companies for a wide range of tasks use spreadsheets, a majority of companies continue to use spreadsheets for financial tracking and reporting. It is however more important that companies keep tighter track of their financial data, including their fixed assets.

Some negative aspects of spreadsheets when it comes to tracking and depreciating fixed assets are

  • Manual creation of formulas
  • Lack of audit trails
  • Security concern
  • Potential for fraud

It is important that companies understand the deficiencies with spreadsheets and implement solutions that are designed specifically for the intended purpose.

Benefits of Asset Verification

  • Identification of Asset not tagged ( i.e if asset tagging process had been done initially).
  • Identify asset not owned by the company but are still shown in the company asset register.
  • Identify assets not in use.
  • Identify assets that are to be disposed due to wear and tear or they are malfunctioned or broken.
  • Identify new assets not captured in the asset register.
  • Identify assets that were disposed but still in the company asset register.
  • Identify assets in wrong location.
  • identify asset movement. i.e Assets that have been moved from one department to another without updating the asset register.
  • Ascertain the actual value of company assets.

Asset Audit and Asset Verification
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