Benefits of Fixed Assets Reconciliation

  1. It Helps to establish Value, Ownership, Title, Existence and possession of assets.
  2. Preventive approach to detect fraud of assets / inventory which might be misused or stolen.
  3. Timely verification helps in fixing the accountability in case of shortage of assets / inventory.
  4. Regulatory compliance [CARO 2020]
  5. Tagging of fixed assets helps in identification and verification of assets.