Asset auditing is a physical verification process. It is akin to comparing an organisation’s “official list” of assets as on the books with the actual assets physically located. By conducting this examination you are confirming that the assets listed on an organisation’s balance sheet are real (or exist physically).
Establishing the existence and location of an organisation’s assets along with evaluation of their usable condition is a crucial business task for organisations of any size.
It involves physically auditing of the assets followed by reconciliation of this data with the asset register. This is critical for operational and financial reasons.
Tracking assets that are mobile (portable) and ensuring they are available, in good condition and locatable is a critical aspect for any organisation. We at Rincon can handle complete physical audits that include all your locations, which can typically be completed 90% quicker (and definitely more accurate) than a manual paper and pen approach since we use different tags depending on the need.
Assets can broadly be classified into 3 categories after audit:
- Available and good to use
- Available but not fit for use
- Not available at all
Our reports generated classify the assets into either of these three categories and then based on the Management’s decision, the items in the second basket maybe sent for repairs / renewal etc. The third basket items may be written off.
Please send us an e mail on sales@rincon.co.in, if interested in knowing more.
