A Fixed Assets Audit is crucial for businesses to ensure that their capital assets are accurately recorded, properly valued, and physically verified. These audits help detect ghost assets, depreciation errors, and improve overall asset utilization.

At Taxfend, we deliver meticulous fixed asset audits that align with your accounting policies and industry standards—giving you better financial control, compliance, and decision-making abilities.

Our Fixed Assets Audit Services Include:

1. Physical Verification of Fixed Assets

• Tagging and barcode-based verification
• Reconciliation of assets with the fixed asset register
• Location-wise mapping of machinery, furniture, computers, etc.

2. Asset Register Review

• Cross-checking of asset capitalization and depreciation
• Detection of ghost assets (non-existent but recorded)
• Review of inter-branch or inter-location asset transfers

3. Depreciation & Valuation Audit

• Verification of depreciation method as per Companies Act or Income Tax
• Revaluation or impairment assessment, if required
• Correct treatment of scrap, sale, or obsolescence

4. Compliance and Controls Check

• Verification with accounting standards like AS 10 / IND AS 16
• Review of insurance coverage for valuable assets
• Risk control recommendations and audit trails

5. Detailed Audit Reporting

• Location-wise and asset-class-wise reports
• Gap analysis with actionable suggestions
• Useful for internal reporting, lenders, or statutory audits

Why Choose Taxfend?

• Expertise in large-scale and multi-location fixed asset audits
• Hands-on team using modern asset tagging and tracking tools
• Audit formats aligned with CFO, auditor, or lender expectations
• Proven results in reducing ghost assets and improving asset efficiency

Who Should Go for a Fixed Assets Audit?

• Medium to large enterprises with heavy equipment or fixed infrastructure
• Companies preparing for due diligence, mergers, or bank funding
• Firms with multiple branches or decentralised asset records
• Organizations struggling with asset theft, misplacement, or depreciation issues