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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.