Audit of Fixed Assets/Property Plant and Equipment
PhygiTech‘s team of consultants has extensive experience in performing physical verification of fixed assets for various types of companies, including manufacturing, service, and trading companies. Our approach is highly customized based on the unique requirements of each client. We leverage technology-driven processes to maximize efficiency and accuracy while ensuring compliance with regulatory requirements.
Our consultants work closely with the client’s team to understand the nature of assets and their location, and plan the physical verification process accordingly. During the verification process, we identify non-functional, repaired, and damaged assets, as well as assets that are lost or stolen, to help quantify impairment losses that need to be accounted for. We also identify potential bottlenecks in the assets, enabling the management to make informed decisions about purchasing balancing equipment.
Our updated fixed asset register provides better control over annual maintenance contracts, insurance policies, and staff responsibilities, and helps in improving overall asset management practices. Our clients have found this service to be invaluable in providing a comprehensive view of their fixed assets and ensuring compliance with regulatory requirements.
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