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I see you have a question about physical verification of fixed assets. Verification and understanding the market value of one’s property ensures that the asset is well protected. A family member shared with me the meaning and its advantages. Keep reading to know more.
How to do physical verification of fixed assets?To conduct verification of fixed assets including examination, you will need to look at related records and physical verification. The auditor will have to verify the records with reference to the documentary evidence. It is usually conducted by the management.
Usually, physical verification of fixed assets is conducted once every three years. It aims at providing information to all stakeholders whether financial statements provide a true and fair picture.There is a small audit fee that is paid for the process to be completed.
Take a look below to read physical verification of fixed assets report format India :
Format of the offer
Name of the Audit Firm /Consortium Firm :
Address
: : : : : : : :
Permanent Address Correspondence Address Telephone Number
Fax Number
Email Address
PAN Number
Service Tax Regd. No.
Particulars
Year of establishment & registration of Firm(s)
Average Annual Turnover of the firm in the preceding 3 Financial Years
Number of partners in the firm
Types of Audit conducted in State/ Central power sector PSUs.
Types of Audit conducted in other State/Central PSUs.
The address of the office / branch near to HQ of OHPC & nearby power stations. Date of Partnership deed with Registration Number.
Copy of consortium agreement
Annexure -2
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How to do physical verification of fixed assets ?
Vivek
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3 Year
2022-03-07T19:53:17+00:00 2022-03-07T19:53:18+00:00Comment
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