Fixed Assets Policy and SOPs

A clear policy and standard operating procedures regarding handling, and recording of fixed assets are documented.

The document includes the personnel responsible including their assignments.

Fixed Asset


Take a photo of the asset for physical evidence

Asset is tagged with asset number?

Year of acquisition

Sufficient description of the asset for identification

Classification (land, building, equipment, machinery, etc)

Quantity/no. of units

Location of asset(s)


Original cost upon acquisition (per unit) including taxes paid and set-up costs

Invoice available?

Current value (considering depreciation estimates)

Asset is currently insured?

Additional notes

Auditor's full name and signature