Fixed Asset Management and Verification Services

For many companies, fixed assets are the largest item on the balance sheet, yet the fixed asset register is often out of date. Assets are disposed of, moved or written off without being recorded, and depreciation continues on assets that no longer exist. Auditors, banks and tax authorities all rely on those figures.

Dawn Consultancy builds and cleans fixed asset registers, carries out physical verification and tagging, and aligns your accounting with IFRS, so your balance sheet reflects what you actually own.

Our fixed asset services

Physical verification of assets across offices, warehouses and sites
Asset tagging with barcode or QR labels linked to the register
Fixed asset register preparation or reconstruction
Reconciliation of the register to the general ledger
Depreciation review: useful lives, residual values and methods under IAS 16
Impairment assessment of damaged, idle or obsolete assets
Capitalisation policy drafting and implementation
Disposal and write-off procedures and documentation

When you need this service

Before an audit, where the auditor has raised concerns about fixed assets
After an acquisition, merger or relocation
When the register has not been updated for several years
Before seeking finance secured on assets
When preparing for Corporate Tax, where depreciation affects taxable income
Before a liquidation, to establish what assets remain

Our approach

Planning. We agree locations, asset classes and the verification timetable.
Verification. Our team physically inspects and records assets, noting condition and location.
Tagging. Assets are labelled for future tracking.
Reconciliation. Verified assets are matched to the register and ledger, and differences are investigated.
Adjustments. We propose accounting entries for missing, surplus or impaired assets.
Handover. You receive an updated register and procedures to keep it accurate.

Benefits

A balance sheet that auditors and lenders can rely on
Correct depreciation and more accurate profit
Better control over company property
Accurate insurance cover
Reliable information for Corporate Tax computations

Frequently asked questions

How often should fixed assets be physically verified?

Most businesses should verify assets at least once a year, typically before the financial year-end. High-value or portable assets may need more frequent checks.

What accounting standard applies to fixed assets?

Property, plant and equipment is accounted for under IAS 16 in full IFRS, and under the equivalent section of IFRS for SMEs.

Do you tag assets?

Yes. We can label assets with barcode or QR tags linked to the updated register so they can be tracked in future.

What happens to assets we cannot find?

Unlocated assets are investigated and, where they cannot be traced, we propose write-off entries with appropriate documentation and approval.

Speak to our team

Tell us the number of locations and approximate number of assets, and we will propose a scope and fee.

Call +971 55 441 1036, email info@dawnconsultancy.com or visit us at Office 1509, Citadel Tower, Business Bay. Contact us to arrange a consultation.

Fixed Asset Verification & Register Services in Dubai | Dawn Consultancy