Physical Verification of Assets

Description

Physical Verification of Network, Plant & Machinery, Office Equipment & Other Support Assets.

Frequency

• Need based.
• Should cover 100% of assets every three years.

Scope of Work

• Conduct physical verification of assets at Cell Sites, Offices, Warehouses & Plants.
• Submission of preliminary report.
• Prepare a discrepancy resolution matrix and determine shortages / excesses.
• Necessary provisions in the books of accounts.
• Closure of Physical Verification Report through sign off between Commercial / Technical, Finance & Us.

Output

• Physical Verification Report of Assets.
• Identifying movement of assets during the period of physical verification.
• Identifying, determining Non-tagable items in Fixed Assets Register like freight, duties etc.
• Site-wise, item-wise reconciliation statement.
• Valuation of shortages / excesses of material at each site.
• Report for Internal as well as Statutory audit.
• Certificate for Physical Verification.