Asset Management Entry 3 – InformationFlow

Automating asset management activities represents an important control. Typically this relates to the capture and reporting of information. However a better approach is to apply automation at the workflow level and as a means to automatically force compliance with...

Reconciliation Entry 9 – Conclusion

Generally speaking, a fixed asset register is intended to be used for depreciation reporting – not for tracking physical assets. Consequently, the vast majority of registers either don’t accommodate the detail needed to track assets or the personnel who maintain a...

Reconciliation Entry 8 – Establishing Conventions for Bundled FAR Entries

In the last entry, we touched upon register adjustments related to additions. Potential adjustments can also be associated with (but are not limited to): Removal of an asset that could not be verified during the physical count (referred to as a write down or write...