Blogs on fixed assets, audit and compliance in India
Practical guides for finance, admin and audit teams: how the rules work, how verification is actually done, and what goes wrong in spreadsheet registers.
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Physical Asset Verification vs. Fixed Asset Audit: Key Differences
Understand the difference between physical asset verification and a fixed asset audit, including scope, process, records, reconciliation and business benefits.
Read the articleWhat Is Physical Asset Verification? Process, Benefits, and Best Practices
Physical asset verification helps businesses track fixed assets, verify asset locations, identify discrepancies and maintain accurate asset records for audits.
Read the articleFixed Asset Register (FAR): Meaning, Importance, and Maintenance
What a fixed asset register is, what it should contain, why it matters, and how to keep asset records accurate for depreciation, verification and audits.
Read the articleCARO 2020 clause 3(i): what auditors must report on your fixed assets
A plain-English guide to CARO 2020 clause 3(i) — the records, physical verification and discrepancy handling your auditor has to comment on, and how to be ready.
Read the articleTwo depreciation books: Schedule II vs Income Tax, and where spreadsheets go wrong
Companies Act Schedule II useful lives versus Income Tax block-of-assets WDV: what differs, why both are mandatory, and the four errors we see most in Excel-based registers.
Read the articleHow to run a physical verification of fixed assets: a step-by-step method
A step-by-step method for physical verification of fixed assets in Indian organisations: scope, tagging, counting, reconciliation, and the evidence your auditor needs.
Read the articleGhost assets: what they cost an Indian company and how to find them
Ghost assets are register lines for items that no longer exist. They inflate the balance sheet, overstate depreciation and insurance, and invite audit qualifications. How to find and clear them.
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