Asset Audit – Fixed Asset Inventory & Reconciliation (FAIR)
Our flagship service is a comprehensive approach that cleanses and fortifies your fixed asset register to establish a stronger foundation for effective fixed asset management. In addition, fixed asset inventory and reconciliation services provide the necessary data visibility to avoid the risk of non-compliance with financial, tax and regulatory issues.
The fixed asset inventory and reconciliation approach, which has an unparalleled audit trail, is deemed by RCS clients as a methodology that bridges gaps typically experienced with traditional fixed asset “reviews”. In addition, RCS utilizes standard methodologies that take into account a variety of issues to ensure a successful and minimally disruptive project.
Wall-to-Wall Physical Inventory
Utilising state-of-the-art handheld technology to capture quality asset inventory data and creating a vehicle for more efficient cycle inventory by tagging all assets with a barcode or RFID label.
Reconciliation of inventoried assets to a fixed asset ledger and other corporate asset management database (e.g. IT, Facilities, Maintenance, etc.).
Additional detailed cost componentization of capital equipment that creates the support needed for IFRS and re-classification of assets into more accelerated depreciation/personal property tax categories.
Reporting and Data Delivery
The FAIR service results are delivered with a detailed audit trail for every asset and reports/data files are formatted to facilitate electronic updates of asset databases.