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Fixed Assets Audit Template

This template can be used by in-house fixed assets accountants and third-party auditors to ensure that the business is maintaining proper records of fixed assets, depreciation of fixed assets are properly calculated, and accounting standards are complied with.
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Audit
Fixed Assets Policy and SOPs
A clear policy and standard operating procedures regarding handling, and recording of fixed assets are documented.
The document includes the personnel responsible including their assignments.
Asset
Take a photo of the asset for physical evidence
Asset is tagged with asset number?
Year of acquisition
Sufficient description of the asset for identification
Classification (land, building, equipment, machinery, etc)
Quantity/no. of units
Location of asset(s)
Vendor
Original cost upon acquisition (per unit) including taxes paid and set-up costs
Invoice available?
Current value (considering depreciation estimates)
Asset is currently insured?
Additional notes
Auditor's full name and signature
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Please note that this checklist template is a hypothetical appuses-hero example and provides only standard information. The template does not aim to replace, among other things, workplace, health and safety advice, medical advice, diagnosis or treatment, or any other applicable law. You should seek your professional advice to determine whether the use of such a checklist is appropriate in your workplace or jurisdiction.
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