Physical verification can be termed as a process of comparing an organization’s official list of assets with the actual assets. Most of assets that auditors verify are fixed assets, cash and inventories. With this examination, auditors personally authenticates that the assets listed on an entity’s financial statements actually exist.
The core purpose of inventory verification is to support the value of inventory as shown in financial statement along with verifying the accuracy of stock records, disclosing the possibility of fraud, theft or loss, or deterioration thereby revealing the weakness of the system, if any. It could be done at periodic intervals or at the end of specified period (periodic verification), throughout any period (perpetual verification), and any point of time as the management deems fit (surprise verification).
AKGVG provides both human and technological inputs for inventory verification of material received, material in process, semi-finished goods, finished goods, warehouse inventory and goods in transit at multiple locations like manufacturing plants, warehouses, trading sites, project sites etc.
Fixed Asset Management
AKGVG is one of the prominent fixed asset management companies in India. Deal with your fixed assets as usual and simply give us the inputs that will be reflected in the databases immediately. AKGVG’s fixed asset management service include but not limited to:
- Physical Verification of fixed assets
- Capitalization & Valuation
- Barcode numbering including location, type of product, tag ID, value and other necessary information
- RFID tagging where required
- Software support and training
- Maintaining database and updating these with reports
We are scrupulous and committed to delivering results setting you free to focus on more crucial aspects of your operations.