- No 53, Ground Floor, 17th B Cross, Amma Ashrama Road, Mariyappanapalya, Bangalore 560 056 Karnataka, India
Fixed Assets Verification
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Fixed Assets Verification – Book Max Consultancy, Bangalore
Every organization invests heavily in fixed assets, including buildings, machinery, vehicles, computers, and furniture. These assets form the backbone of business operations and represent a large portion of total investments.
Ensuring their existence, valuation, and condition is crucial for accurate financial reporting and sound asset management.
At Book Max Consultancy, Bangalore, we provide comprehensive Fixed Assets Verification and Audit Services to help businesses maintain accurate asset records, prevent misuse or loss, and comply with statutory and accounting standards.
Our team of experienced auditors and chartered accountants ensures that your company’s assets are verified, valued, and recorded correctly in accordance with Indian Accounting Standards (Ind AS) and internal audit guidelines.
What is Fixed Assets Verification?
Fixed Assets Verification is the process of physically checking and reconciling all assets owned by an organization with the fixed asset register and accounting records.
This ensures the accuracy and existence of each asset, helping businesses maintain reliable and transparent financial statements.
The verification process helps confirm
• Physical existence and location of assets
• Asset condition, usage, and efficiency
• Valuation and classification accuracy in financial statements
• Compliance with statutory and internal audit requirements
At Book Max Consultancy, Bangalore, we ensure your asset records are up to date, verified, and compliant with audit and accounting norms, giving you full control over your organization’s fixed assets.
Scope of Fixed Assets Verification
Our Fixed Asset Audit Services cover a complete and methodical review of all tangible assets. The scope includes:
1. Physical Verification of Assets
• On-site inspection of assets across offices, plants, and warehouses
• Verification of asset ownership, identification, and location
• Cross-checking with the company’s fixed asset register
2. Reconciliation of Records
• Matching physical assets with accounting records
• Identification of missing, obsolete, or damaged assets
• Updating and adjusting the fixed asset register
3. Asset Tagging & Coding
• Implementation of barcode or RFID-based asset tagging
• Creating unique identification codes for better control and tracking
4. Valuation & Depreciation Review
• Reviewing depreciation policies and methods
• Assessing fair value, impairment, or revaluation needs
• Assistance with disposal accounting and reporting
5. Reporting & Recommendations
• Detailed audit report with findings and discrepancies
• Practical recommendations to strengthen internal asset management
At Book Max Consultancy, we ensure complete accuracy and transparency through advanced tools, real-time tracking, and data-driven analysis.
Why Choose Book Max Consultancy, Bangalore?
- Experienced Professionals: Chartered accountants and audit experts with years of asset verification experience.
- Tailored & Comprehensive Audits: Customized verification for corporates, factories, and service companies.
- Pan-India Audit Reach: Asset verification across multiple offices, plants, and warehouses nationwide.
- Technology-Driven Approach: Use of RFID/barcode tagging and digital asset tracking tools for precise results.
- Trusted by Leading Businesses: Proven expertise in handling large-scale asset audits for Indian and multinational firms.
At Book Max Consultancy, we help organizations establish financial discipline, maintain accurate records, and ensure transparency in asset management through robust audit practices.
Frequently Asked Questions (FAQs)
To confirm the existence, ownership, and accurate recording of all fixed assets owned by the business.
Ideally, annually or biannually, depending on company policy and audit requirements.
While not legally mandatory for all entities, it is strongly recommended for statutory audits, internal audits, and compliance reviews
Common issues include unrecorded, misplaced, or obsolete assets, and incorrect depreciation entries.
Yes. We perform nationwide asset verification for businesses with multiple locations or warehouses.