Asset Tracing Services
Major financial & asset misappropriation are on the rise with alarming regularity. Due to high capital & Revenue expenditure & increasing compliance requirements, it is vital to maintain proper records of Fixed Assets/Inventory and to ensure the existence of such Fixed/Revenue assets.
What is Asset Tracing Services?
Asset tracing as the word suggests is tracing or locating assets belonging to a Company. These assets could be physical fixed assets, financial assets, documents, or anything valuable that the company might have misappropriated or simply want to avoid from being misappropriated in the future (in cases of existing assets). This process helps in keeping any kind of Misappropriation, theft, pilferage or personal usage.
Our Asset Tracing Services include the following:
1-Preparation of Fixed Asset Register: Asset Tracing begins with a Fixed Asset Register. It is a detailed list of all fixed assets which are owned by a business. It helps to accurately record and maintain financial information of every asset.
Fixed Asset Register Exists in 2 Formats:
2- Tagging of Fixed Assets: Asset tags are labels that are targeted to monitor and keep a track of the organization’s physical assets. They act as a stable foundation for a smooth process of inventory control of equipment for enterprises.
Asset tags help in managing physical capital, along with tracking and preventing any kind of asset theft/pilferages.
3-Physical Verification of Fixed Assets: Physical Verification of Fixed Assets is a process carried by Auditors, Consultants, and Authorities to make sure that the physical assets by the company exist. This is important for asset tracing and recovery of lost assets if any.
4-Physical Verification of Inventory: is the process of cross-checking financial records with managing a physical inventory or record.
Our Service Deck:– Asset Tracing Services
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December 14, 2020
December 03, 2020
December 03, 2020
November 23, 2020