Asset Stocktaking & Auditing

Our experienced audit personnel have been delivering our asset audit services for over 20 years to organisations across all industry sectors incorporating Education, Mining, Public Utilities, Engineering, Facilities Management, Aged Care and Community Services.

Having accurate asset data provides the organisation with a verified accurate asset register that will facilitate improved asset accountability, finance and purchase decisions, governance and regulatory compliance. The audit process can either encompass verification of existing asset register data, or the data capture of new asset records in order to build an asset register. Our audit methodology and processes will support you with both options.

What we Audit

We have audited 100,000’s of assets across all asset types, industries, challenging locations and environments. This includes;

ICT equipment & network infrastructure
Audio visual & multi media
Education & laboratory equipment
Office equipment, furniture, fixtures & fittings
Hospitality equipment
Medical & scientific equipment

Regardless of the asset type or environment, our data collection technologies, process methodology and experience will ensure we can provide your organisation with an accurate and efficient asset audit experience.

How we Audit

Experience tells us that a successful asset audit begins with good quality planning. If you’re inexperienced in the audit process, you could end up with a slow, tedious project, that drains internal resources and provides poor quality data.

We work with you to understand your desired audit outcome, what is the asset data to be used for, what information needs to be collected, and what technology or format the data needs to be delivered upon completion.

Key fields captured during an audit include; Barcode/RFID tag, Location, Asset Type, Make & Model, Description, Serial No, Condition & Photos. Other data fields can be tailored to suit end user requirements.

The use of barcode/RFID labels and scanning technology in the audit process ensures quick, accurate and efficient data collection in the field, providing complete visibility of the asset record for future auditing and reconciliation.

And you’re not restricted to using our audit technology. If you already have asset software and mobility audit tools, we can use those if required to provide an independent audit service, directly updating your software. The options are yours to choose.

Benefits of the Audit

Regular asset auditing is essential for ensuring complete visibility of the asset register and providing high quality financial compliance and processes. Take control of your organisations critical assets. Audit benefits include;

Asset Visibility – regular audits ensure an accurate and up to date asset register with complete visibility by tagging, location and status.
Cost Management – identify un-recorded, surplus or non-standard assets to enable review of purchasing decisions.
Condition Monitoring – identify assets requiring maintenance and repairs. This helps prevent costly breakdowns and extends asset life.
Risk Management – audits identify assets missing due to loss or theft. They aid in addressing security and business process deficiencies quickly.

Financial Reporting – auditing aids accurate reporting of asset depreciation, disposals & write-offs in compliance with accounting standards.
Insurance – accurate asset records facilitate insurance valuations and claim processing in the event of loss or damage.
Compliance & Reporting – audits ensure organisations meet their regulatory compliance obligations and provide a mechanism for accurate reporting to stakeholders.
Decision Making – asset audits are vital in providing data to aid informed decision making around asset lifecycle management, utilisation, maintenance and acquisition planning.

Let’s Talk

Need a better way to track and manage your assets?

Book a Free Consultation and get the right asset management solution for your business.