Audit of Fixed Asset

The Main Objective of the Fixed Asset Audit is to check the following:

  1. Existence of Fixed Asset
  2. To ensure the Correctness of the entities Capitalisation and accounting policy
  3. Completeness and accuracy of Fixed Asset Registers and records maintained by the entity
  4. Compliance towards Accounting Standards and Guidance Notes Issued
  5. Whether Depreciation is calculated as per the applicable framework or statute
  6. Whether Disposal of Fixed Assets and Impairments if any is right accounted

Fixed Asset audit helps to prepare the accurate Financial Statements and helps the statutory auditors. Hence it will ensure regulatory compliance like Income Tax Act 1961, CARO and Schedule II & Schedule III in case of Companies. In addition to these fixed asset audits provides better internal control and helps the company to fix the errors or omission if any accounting and capitalisation of the same

Our firm with Qualified Chartered Account and experienced professionals will provide Fixed Audit Services as per generally accepted auditing principles