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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

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)

Vendor

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

Fixed Assets Audit Template

Created by: SafetyCulture Staff | Industry: General | Downloads: 8

This template can be used by in-house fixed assets accountants and third-party auditors to ensure that the business is maintaining proper records of fixed assets, depreciation of fixed assets are properly calculated, and accounting standards are complied with.

Signup for a free iAuditor account to download and edit this checklist. It will be added to your free account and you will be able to conduct inspections from your mobile device.

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Audit

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

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)

Vendor

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