Aug 19, 2021
Physical verification of assets is an important aspect of auditing. Without verification of assets, an audit is incomplete. Auditing is done
Physical verification of assets is an important aspect of auditing. There is a list down for objectives of the physical asset verification. Bookkeeping needs all the above information for effective inventory management and depreciation management. Another fraud of asset is asset disposal and acquisition. Create and maintain a fixed asset register is the solution to solve the audit problems.
Read: Physical Verification & audit techniques
