Fixed Asset Verification Services in India
Fixed Asset Verification Services across PAN India — Floor-to-Sheet & Sheet-to-Floor verification with CARO 2020 compliant reports delivered in 2-5 days.
What are Fixed Asset Verification Services
TagMyAssets delivers end-to-end asset verification services, combining on-site physical verification with precise reconciliation of assets against the Fixed Asset Register (FAR).
At TagMyAssets, we conduct comprehensive asset verification using structured methodologies such as Sheet to Floor and Floor to Sheet, ensuring accuracy, traceability, and audit compliance.
Our services help organizations identify missing assets, excess assets, incorrect locations, and discrepancies in financial records, enabling better control and decision-making.
Our Fixed Asset Verification Methodology
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We follow a structured and audit-ready approach:
1. Sheet to Floor Verification
- Assets from FAR are physically verified at site
- Tagging and validation done simultaneously
2. Floor to Sheet Verification
- Assets available at site are identified first
- Later mapped with FAR records
3. Asset Tagging (Optional but Recommended)
- QR / Barcode / RFID tagging
- Mobile-based data capture
4. FAR Reconciliation
- Matching physical assets with records
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Identification of:
- Not Found Assets
- Excess Assets
- Misplaced Assets
Importance of Fixed Asset Verification Services for Businesses
Asset verification services play a crucial role in ensuring the accuracy of financial records and improving internal control over assets. Companies across industries rely on professional asset verification services to identify discrepancies, prevent asset loss, and ensure compliance with audit requirements.
Regular asset verification also helps organizations maintain updated Fixed Asset Registers (FAR), improve asset utilization, and support better decision-making.
Scope of Fixed Asset Verification Services
Include:
- Physical verification of fixed assets
- Asset tagging (QR / RFID)
- Location mapping
- User mapping
- Condition verification
- FAR reconciliation
- Audit-ready reports
Choose TagMyAssets for Asset Verification Services
- Pan India execution capability
- 100,000+ assets handled
- Mobile app-based verification
- RFID / QR expertise
- Audit & compliance focus
Deliverables Provided
- Updated Fixed Asset Register (FAR)
- Exception Report
- Tagging Report
- Location-wise Asset Summary
- Audit Support Documents
Our asset verification services are designed to deliver accurate, reliable, and audit-ready results for businesses across India.
As per accounting standards like Companies Act, 2013, asset verification is essential for compliance.
Get a Quote
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+91 96500 03293
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Regular verification eliminates assets that exist in records but are missing on the ground, keeping your FAR accurate.
Verified asset records help businesses meet CARO 2020, Companies Act 2013, and statutory audit requirements without last-minute scrambles.
Reconciling physical assets with FAR catches over- or under-stated asset values before they impact your balance sheet.
Knowing exactly what assets exist, where they are, and who is responsible strengthens accountability across departments.
Accurate asset data ensures correct depreciation calculations and prevents over-insuring or under-insuring your asset base.
Covers PAN India Operations
Multi-location businesses get consistent verification across all sites — same methodology, same report format, same compliance standard.
Our Process
1.
Physical Verification
Our trained verification teams physically inspect assets at site using a structured floor-to-sheet and sheet-to-floor methodology. Each asset is identified, verified, and matched with available records to confirm existence and condition.
2.
Obtain & Review Fixed Asset Register (FAR)
We obtain the existing Fixed Asset Register from the client and review it to understand asset categories, locations, capitalization details, and gaps between records and ground reality.
3.
Data Sensitization & Standardization
Asset data is standardized by correcting descriptions, categorizing assets appropriately, and removing duplications or obsolete entries to ensure consistency and audit usability.
4.
Asset Tagging & Categorization
Each verified asset is tagged with a durable QR/Barcode tag and mapped to the updated database. Assets are categorized based on type, location, department, and usage.
5.
Reconciliation & Reporting
Physical verification results are reconciled with the FAR, and detailed variance reports are prepared highlighting shortages, excesses, and unidentified assets.
Frequently Asked Questions
Q1: What is the difference between Sheet to Floor and Floor to Sheet verification?
A: Sheet to Floor verification starts from the Fixed Asset Register and physically locates each asset on-site. Floor to Sheet starts from assets physically present and maps them back to records. TagMyAssets uses both methods to ensure nothing is missed in either direction.
Q2: How long does asset verification take?
A: For most companies, verification is completed within 2–5 working days depending on the number of assets and locations. Multi-location projects are handled with parallel teams to reduce turnaround time.
Q3: Is asset verification mandatory under CARO 2020?
A: Yes. CARO 2020 requires auditors to verify whether physical verification of fixed assets has been conducted by the management at reasonable intervals. Companies that cannot produce verified records face audit qualifications.
Q4: What deliverables will we receive after verification?
A: You receive an updated Fixed Asset Register, Exception Report (missing/excess assets), Tagging Report, Location-wise Asset Summary, and Audit Support Documents — all in audit-ready format.
Q5: Do you provide asset verification services outside Delhi NCR?
A: Yes. TagMyAssets operates PAN India across all major cities including Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata with dedicated field teams.
Our fixed asset management services work seamlessly with our inventory verification services.
