Finance and Accountancy Briefing
Enabling quick and cost effective physical audits
The intent of this whitepaper is to explain the business requirement for physically auditing assets, to explore the benefi ts associated with conducting physical audits and to provide a step by step process for performing them.
Verifying what an organisation owns and the whereabouts is essential for complying with requirements such as IFRS and Sarbanes-Oxley (SOX). In addition to regulatory compliance, effective asset management can also help to ensure assets are insured at the correct level, to budget for maintenance and help to avoid unexpected asset ‘write-offs’. In order to properly manage assets, it is essential to perform thorough, routine physical audits.
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