We advise and assist organizations in carrying out assets inventory and electronic verification using our Laser Barcode Scanner. This involves identification of all assets of the organization taking into cognizance, its location, quantity, quality, year of purchase, codifying and computerized indexing of assets.

We consistently reconcile the physical fixed assets with the existing asset register, this enable us to know what is on ground physically that is not missing in the asset register and what is in the asset

register that is not physically found on ground and produce a consolidated fixed asset register for your organization to ensure proper planning by the management.

With the present countdown on IFRS implementation, it has become pertinent for Companies to ensure that adequate records of Property Plant and Equipment (PPE) are maintained in the form of properly updated Fixed Assets Register (FAR) which should give information about relevant assets regarding age, cost, location, depreciation, book value, maintenance history etc. In the same vein, adequate records of stores and spares are required in order to ensure proper implementation of International Financial Reporting Standards (IFRS).

Apart from IFRS compliance, it is statutorily required by the Companies and Allied Matters Act that Companies should maintain Fixed Assets Register and there are penalties in the Law for non- compliance.

Even if we disregard compliance with legislation and standards, a Company is bound to reap bountifully from the maintenance of adequate FAR and some of the benefits derivable are: