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Fixed Asset Verification

The Audit Readiness Checklist

Assess whether your organisation can prove what exists, where it is, who is accountable and what has changed. Twenty statements across seven areas of fixed asset control return a score, the gaps behind it, and the five actions that matter most. It assumes your existing ERP or asset register stays in place.

Answer legend

Yes
Control is operating and evidence is available
Partly
Control exists but is incomplete or inconsistent
No
Control is absent or evidence is unavailable
N/A
Not applicable, with reason recorded
0 of 20 statements answered—
Section 1Verification currencyCan you show when assets were last physically verified?

1.Every in-scope asset record has a visible last-verification date.

Evidence available: Last-verification report or asset record

Answer: Not answered

2.Verification dates can be reported by company, location, cost centre and asset class.

Evidence available: Verification status report

Answer: Not answered

3.Overdue assets can be identified against the required verification frequency.

Evidence available: Overdue-verification report

Answer: Not answered

4.The age of verification evidence is reviewed before reporting or audit.

Evidence available: Management review evidence

Answer: Not answered

Section 2Verifier accountabilityCan you identify who performed each verification?

5.Each verification records the authorised user who completed it.

Evidence available: User-stamped verification record

Answer: Not answered

6.Verification responsibility is assigned by asset, location, cost centre or class.

Evidence available: Responsibility assignment

Answer: Not answered

7.Users can access only the asset population relevant to their responsibilities.

Evidence available: Role and access review

Answer: Not answered

8.Finance or the asset custodian can monitor completion by responsible person.

Evidence available: Completion dashboard or report

Answer: Not answered

Section 3Outstanding and unverifiable assetsCan you see what remains unresolved?

9.Unverified assets can be reported immediately.

Evidence available: Outstanding-verification report

Answer: Not answered

10.Missing, moved, damaged, duplicated or unlabelled assets are recorded as exceptions.

Evidence available: Exception register

Answer: Not answered

Section 4Movements, transfers and disposalsCan you trace asset lifecycle changes?

11.Asset movements and transfers are recorded with dates and responsible users.

Evidence available: Movement or transfer history

Answer: Not answered

12.Standard reason codes or categories are used for changes.

Evidence available: Configured reason list

Answer: Not answered

13.Approved changes are reconciled or aligned with the asset register.

Evidence available: Reconciliation or write-back evidence

Answer: Not answered

Section 5Review and approvalCan you demonstrate that changes are controlled?

14.Proposed changes are reviewed before the system of record is updated.

Evidence available: Approval history

Answer: Not answered

15.Rejected or returned items retain comments and status history.

Evidence available: Decision and comment record

Answer: Not answered

16.The audit trail shows who acted, what changed, when and how it was approved.

Evidence available: Complete audit trail

Answer: Not answered

Section 6Manager visibility and ownershipCan managers see the assets for which they are accountable?

17.Managers can view assets assigned to their locations or cost centres.

Evidence available: Role-based asset view

Answer: Not answered

18.Ownership changes are reflected through a controlled process.

Evidence available: Custodian-change history

Answer: Not answered

Section 7Audit and CAPEX decision supportDoes verified information support financial decisions?

19.Audit evidence can be retrieved without rebuilding it from emails and spreadsheets.

Evidence available: Audit evidence pack

Answer: Not answered

20.Asset activity can be considered alongside budgets, forecasts and financial reporting.

Evidence available: Connected planning or management report

Answer: Not answered

Your readiness score

Answer the statements above and your score appears here as you go.

Important: This score is a self-assessment indicator. It is not an audit conclusion and should be considered together with evidence of quality, asset risk and organisational requirements.

Unlock the full report

Your score, band and reading are yours already. Tell us where to send the detail and we will open the rest.

  • The score for each of the seven sections
  • The weakest sections and every statement scored No
  • The top five improvement actions worksheet
  • A printable report you can save as a PDF

Answer at least one statement above to generate a report.

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The per-section breakdown, the named gaps and the actions worksheet open once you tell us where to send them.

Section breakdown

SectionPointsApplicableScore
Verification currency0 / 00N/A
Verifier accountability0 / 00N/A
Outstanding and unverifiable assets0 / 00N/A
Movements, transfers and disposals0 / 00N/A
Review and approval0 / 00N/A
Manager visibility and ownership0 / 00N/A
Audit and CAPEX decision support0 / 00N/A

Where the attention should go

No section carries an applicable answer yet, so there is nothing to rank.

Statements scored No

Nothing was scored No. Confirm the quality of the evidence behind each Yes.

Top five improvement actions

Absent controls first, then the incomplete ones. Print this page and agree an owner and a target date for each.

#Priority actionOwnerTarget dateStatus
1
2
3
4
5

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