The Classic Partners LLP
Fixed Asset Audit & Verification
Physical verification, tagging, and reconciliation of fixed assets with your Fixed Asset Register. We help you locate, identify, and correctly value every asset you own.
Start a Fixed Asset AuditWhat is a Fixed Asset Audit?
A fixed asset audit is the physical verification of a company's plant, machinery, equipment, furniture, and other capital assets, reconciled with the Fixed Asset Register (FAR).
It ensures that assets recorded in the books physically exist, are in working condition, are correctly classified, and are depreciated appropriately. We also help tag assets with unique IDs for ongoing tracking.
Who Needs Fixed Asset Audit?
- Companies with large or dispersed asset bases.
- Businesses with an outdated or incomplete Fixed Asset Register.
- Organisations preparing for statutory audit or insurance.
- Entities undergoing mergers, demergers, or restructuring.
Our Fixed Asset Audit Services
Physical Verification
On-ground identification and condition check of assets.
Asset Tagging
Unique barcode or QR tagging for traceability.
FAR Reconciliation
Matching physical assets to the asset register.
Depreciation Review
Checking useful life and depreciation as per standards.
Gap & Disposal Report
Identifying missing, idle, or disposable assets.
FAR Rebuild
Creating or cleaning up the Fixed Asset Register.
Why Choose The Classic Partners
- Qualified Chartered Accountants with hands-on audit and assurance experience.
- End-to-end support — from documentation and verification to final reporting.
- Timely delivery so you meet statutory and lender deadlines without stress.
- Transparent fees and a single dedicated point of contact.
Frequently Asked Questions
Why is fixed asset verification important?
It confirms that assets on the books actually exist, prevents overstatement, supports accurate depreciation, and is often required for statutory audit and insurance.
What is asset tagging?
Asset tagging attaches a unique barcode or QR code to each asset so it can be tracked, located, and reconciled easily in future verifications.
What is a Fixed Asset Register?
A Fixed Asset Register is the detailed record of all capital assets, including cost, location, useful life, depreciation, and current book value.
How do you handle assets at multiple sites?
We plan location-wise verification, coordinate with site teams, and consolidate the findings into one reconciled report.
Can you help correct depreciation errors?
Yes. We review useful lives and depreciation methods against applicable standards and recommend corrections where required.
Need a Fixed Asset Audit?
Get a clean, reconciled Fixed Asset Register and reliable asset verification.
Contact Us