Fixed Asset Register Verification

Fixed Asset Register Verification

Since the early 1980’s the valuation team at Mitchell & Taylor have resolved our clients’ financial reporting issues by physically verifying and cleansing historic fixed asset register (FAR) data for businesses throughout all industry groups.

Our clients’ concerns revolved around the accuracy of the historic FAR data to provide current and reliable financial information. Their concerns included:

• does any data inaccuracy cause the misstatement of carrying values for financial reporting ?
• inaccuracies in forecasting sustaining capex due to understated/overstated yearly depreciation ?
• is the business making a sufficient return on its capital investment ?
• can management identify and optimise unused capacity in its asset base ?
• is the yearly maintenance budget adequate to sustain the remaining useful lives of our assets ?
• can we easily identify clear and concise data for under-performing assets for carrying value write-downs ?
• can we easily identify clear and concise data for retired, sold, stolen or lost assets ?

Mitchell and Taylor’s analysis has revealed that a typical unverified client FAR has a 52% data inaccuracy factor pre-verification and data cleansing:

* % based upon a review of 12 FAR’S with approximately 92,00 line items

For further information on how Mitchell & Taylor can resolve your financial reporting issues, or Fixed Asset Register Verification do not hesitate to contact us.