This is an outsourced function where a team of professionals are sent to the client’s premises to help them in verifying if the assets recorded on the fixed assets register are physically available in the premises.
- Physical Fixed Assets verification;
- Identifying the fixed assets;
- Reconciliation of the fixed assets register;
- Creating a fixed assets register;
- Fixed assets tagging (using the latest technology);
- Fixed assets valuation (Using the market values);
- Classification of assets;
- Depreciation of assets;
- Assets Management policy;
- Assets movement procedures and system.
- The service assist in certifying that fixed assets that are reflected on the assets register or Financial Records are physically present in the organization. It ensures the correctness and completeness of the fixed assets register;
- The methodology and best practices used in executing this function are aligned to meet international and local accounting reporting standards (e.g. IFRS, GAAP and GRAP). This service is designed to meet the needs of both the Public Sector and Private Service.
- This service assists the government at all spheres to perform the fixed assets verification and to ensure proper management of the fixed assets as required by the PFMA (Public Finance Management Act), MFMA (Municipal Finance Management Act), Assets Management guideline (National treasury)
- It also assists the companies and organizations to create Assets Management policies, to comply with their assets management policies and to manage their fixed assets accurately and transparently.