Best practice is an annual full-scope verification aligned with the financial year-end. High-mobility assets like laptops should be verified twice yearly. Statutory auditors typically expect a physical verification report dated within 12 months of the balance sheet date.

Ghost assets are items recorded in the FAR and balance sheet that no longer exist physically. They inflate your asset values, cause over-depreciation mismatch, inflate insurance premiums, and create audit qualifications. Our verification identifies and quantifies them for write-off.

Yes. Our teams operate across all your offices, factories, warehouses, and project sites in Gurgaon, Delhi NCR, and pan-India. Each location receives a separate verification sheet, and consolidation happens into a single master reconciliation report.

You receive: (i) signed verification certificate by our CA partner, (ii) location-wise verified asset schedules, (iii) variance report listing missing/unrecorded/idle assets, (iv) photographic evidence and scan logs, and (v) corrective action recommendations with FAR cleanup steps.

A mid-size corporate office (1,000–3,000 assets) typically takes 3–5 working days. Manufacturing plants with heavy machinery may take 1–2 weeks depending on floor count complexity, tag generation needs, and site count. We share a detailed timeline before commencement.

A statutory audit examines whether fixed asset balances are fairly stated in the financial statements, relying on management's records and sampling. Fixed asset verification is a physical ground-truth exercise our teams actually locate, inspect, and scan each asset on your floors. Statutory auditors depend on our verification certificate as independent evidence under SA 501, so the two are complementary, not interchangeable. Many companies engage us specifically to give their statutory auditors a clean, evidence-backed asset base.

Yes. During verification we cross-check capital asset purchases with GST invoices and ITC claims in GSTR-3B. We flag assets where ITC was claimed but invoices are missing, identify credit notes not adjusted, and verify Rule 43 (capital goods) reversals where assets are later used for exempt supplies or sold. This is especially valuable for manufacturing units in IMT Manesar and Udyog Vihar with heavy capital procurement.

Every variance is documented with photographs, last-known location, and assigned custodian details. We classify findings as missing (potential theft/pilferage), damaged (repair vs. write-off), or idle (obsolete/underutilized). We then prepare write-off working papers, draft board resolution formats, calculate loss on disposal entries, and advise on insurance claims where the asset was insured. Nothing is adjusted in the books without documented management approval.

Absolutely. Many companies approach us with an outdated or untagged FAR. As a standalone engagement, we generate unique asset IDs, print tamper-proof polyester barcode/QR labels, tag all assets floor-by-floor, and hand over a scan-ready master database compatible with SAP, Oracle, Tally, or Zoho Books. Tagging can be bundled with full verification or done as a precursor to it.

Pricing depends on asset volume, number of locations, tagging requirements, and reporting depth. As a general guide, corporate offices with 500–2,000 assets typically fall in a modest per-asset or fixed-fee bracket, while manufacturing plants with heavy machinery and CWIP are quoted after a free scoping visit. We provide a transparent, written quote with no hidden charges. Contact us for a same-day estimate.