Fixed Asset Audit & Verification
Fixed assets sit quietly on your balance sheet, but they carry long-term impact. Misstated values, missing assets, or incorrect depreciation can distort your financials and create compliance risks.
At N D Savla & Associates, we help businesses bring clarity and control over their fixed assets. From physical verification to depreciation accuracy, we make sure your asset records actually reflect reality.
What we do
- Physical verification of fixed assets across offices, plants, and locations
- Asset tagging & identification for proper tracking and control
- Reconciliation with Fixed Asset Register (FAR) and books of accounts
- Depreciation review as per Companies Act and Income Tax Act
- Capitalisation checks to ensure correct classification of expenses vs assets
- Disposal & write-off verification to confirm proper accounting treatment
- Impairment review to identify assets that are no longer usable or overvalued
Where this helps
- Statutory audit and financial reporting accuracy
- Internal control over assets
- Prevention of asset loss or misuse
- Better tracking for large or multi-location businesses
- Compliance with accounting standards and tax regulations
Our approach
Here’s the reality. Fixed asset issues usually build up over years, not overnight.
So we go beyond ticking boxes. We:
- Trace assets from records to physical existence
- Identify gaps in tagging, tracking, and control
- Clean up your fixed asset register
- Help you build a system that stays accurate going forward
F.A.Q.
It’s a process of verifying the existence, valuation, and accuracy of fixed assets recorded in the books.
Because missing assets, wrong depreciation, or incorrect classification can directly impact profits and compliance.
Ideally once a year. For large organizations, periodic or rolling verification is more effective.
It’s a detailed record of all assets including cost, location, depreciation, and useful life.
Assigning unique identification numbers (barcodes/labels) to assets for tracking and control.
We verify rates, methods, and calculations as per Companies Act and Income Tax rules.
Yes. Missing or duplicate assets, unauthorized disposals, or inflated capitalisation can be identified.
