MBG offers end-to-end Fixed Asset Verification services to help companies identify discrepancies, reconcile technical and financial asset registers, and maintain the integrity of asset information to operational, financial, and regulatory objectives.
We conduct thorough physical verification of assets, assign unique identification tags, and assess asset condition to ensure traceability, usability, and compliance with company policies and the provisions of the IAS 16.
MBG ensures alignment between the Technical Asset Register (TAR) and Financial Asset Register (FAR), identifying unmatched, obsolete, or misclassified assets. Our process strengthens internal controls, improves reporting accuracy, and enhances asset lifecycle management.
We help embed robust asset governance structures, clear responsibility assignments, and standardized reporting processes. This ensures capital expenditures, depreciation, and asset disposals comply with accounting standards and internal policies.
MBG prepares comprehensive reports and dashboards detailing asset counts, tagging status, condition assessments, and reconciliation outcomes.
We translate verification and tagging outcomes into actionable operational guidelines, workflows, and training programs. Our approach ensures consistent asset management practices across sites, departments, and business units.
MBG follows a structured methodology to help companies conduct, standardize, and continuously improve asset verification practices:
Review and map Technical Asset Register (TAR) and Financial Asset Register (FAR) to ensure completeness and accuracy.
Normalize data, asset attributes, resolve discrepancies, and prepare for reconciliation.
Compare TAR and FAR, classify assets (matched, technical-only, financial-only), and identify assets eligible for tagging.
Develop a unified, traceable register with detailed asset attributes for physical verification and ongoing management.
Conduct on-site asset counting, tagging with barcodes or RFID, and assess the condition (Excellent, Good, Fair, Poor) to inform maintenance and disposal decisions.
Prepare auditable reports summarizing verification results, discrepancies, tagging status, and recommendations for management review and approval.
With deep-rooted experience in the UAE and broader GCC oil and gas sector, MBG Corporate Services specializes in comprehensive fixed asset verification designed to optimize operational efficiency and reinforce financial compliance. We understand the critical importance of accurate asset records in an industry characterized by high-value equipment, complex infrastructure, and strict regulatory oversight. By conducting meticulous asset identification, tagging, and counting, we help organizations maintain precise records, reduce the risk of misstatements, and improve the reliability of financial reporting.
Our services extend beyond basic verification to provide a full suite of reconciliation, reporting, and management advisory support. This comprehensive approach empowers oil and gas companies to make informed decisions, strengthen governance, and sustain operational resilience.
Proven track record in oil & gas asset verification and tagging.
Combines asset management with risk, audit, and compliance expertise.
Services aligned with IAS 16, IFRS, and UAE regulatory requirements.
Processes and workflows that are implementable, measurable, and operationally embedded.
Ongoing enhancement of asset management practices to ensure efficiency, transparency, and audit readiness.
Submit your enquiries to MBG Corporate Services. We will respond as soon as possible.
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