Operations · Asset Management

Fixed Asset Tagging & Verification for total asset visibility.

Physical verification, tagging, and reconciliation of fixed assets — delivering an accurate, auditable asset register that reflects what your company actually owns, where it is, and what it is worth.

Most companies have a fixed asset register that does not reflect reality. Assets are purchased and not added, disposed of and not removed, transferred between locations without record, or simply not physically verifiable because they were never tagged. The result is a register that overstates assets and cannot pass audit scrutiny.

NDS Advisors provides independent fixed asset tagging and physical verification services — physically locating every asset, affixing durable identification tags, verifying condition and location, and reconciling the physical count against the asset register to produce a clean, accurate, auditable fixed asset database.

Our work is particularly relevant for companies preparing for statutory audit, due diligence, merger or acquisition, ERP implementation, or insurance renewal — and for any organisation that has not conducted a formal asset verification in recent years.

Our Fixed Asset Tagging & Verification Services

Physical Asset Verification

Physical count and verification of all fixed assets across all locations — confirming existence, condition, and location of every item.

Fixed Asset Tagging (Barcode/RFID)

Affixing durable barcode or RFID tags to all physical assets, enabling efficient tracking, audit, and lifecycle management.

Asset Register Reconciliation

Reconciliation of physically verified assets against the existing fixed asset register — identifying unrecorded, missing, and ghost assets.

Ghost Asset Identification

Identification of assets recorded in the register that cannot be physically located — enabling removal and correction of inflated asset values.

Condition Assessment

Assessment of asset condition — good, fair, or poor — to support depreciation review, write-off decisions, and insurance renewal.

Asset Codification

Design and application of a systematic asset numbering and classification system aligned to your industry and accounting needs.

Depreciation Review

Review of depreciation rates and methods against Schedule II of the Companies Act, 2013 — identifying under- or over-depreciation.

Fixed Asset Register Cleanup

Reconstruction or clean-up of the fixed asset register based on verified physical data — ready for ERP upload or audit submission.

Our Process

Scope & Planning

Agreement on locations, asset categories, tagging methodology, and reconciliation approach — with a project schedule and team briefing.

Physical Tagging

Verification team visits each location, physically locates assets, affixes tags, photographs assets, and records condition and location.

Data Capture & Compilation

All field data is compiled into a structured asset database — with asset description, tag number, location, condition, and serial number.

Reconciliation

Physical asset database is reconciled against the existing fixed asset register — producing a gap analysis of additions, disposals, transfers, and ghost assets.

Report & Updated Register

Verified asset register delivered, along with a reconciliation report, ghost asset list, and recommendations for ongoing maintenance.

Why It Matters

✓Produces an accurate, auditable fixed asset register

✓Identifies ghost assets inflating your balance sheet

✓Supports statutory audit and due diligence requirements

✓Enables correct depreciation calculation under Schedule II

✓Provides a verified asset base for insurance renewal

✓Creates a foundation for ongoing asset lifecycle management

✓Supports ERP implementation with clean asset master data

✓Deters asset theft and misappropriation through visibility

Frequently Asked Questions

Over time, most asset registers drift from physical reality — assets are purchased and not recorded, disposed of and not removed, or transferred without update. Physical verification corrects this drift, produces an accurate register for audit and financial reporting, and identifies ghost assets inflating your balance sheet.

A ghost asset is one that appears in your fixed asset register but cannot be physically located — arising from assets that have been disposed of, scrapped, stolen, or lost but never formally removed. Ghost assets inflate asset values, overstate depreciation, and distort your balance sheet.

We use both barcode and RFID tags, depending on the asset type and client requirements. Barcode tags are lower cost and suitable for most assets in controlled environments. RFID tags enable faster scanning without line-of-sight and are preferred for large asset bases or warehouse environments. We advise on the most appropriate technology for your situation.

A single-location engagement with 500 to 1,000 assets typically takes 3 to 5 days for fieldwork. Multi-location projects are scoped based on asset count and geographic spread. We provide a project timeline at the start of each engagement.

Yes. We can reconstruct a fixed asset register from the ground up using physical verification data — without relying on an existing register as the starting point. This is common for companies that have grown rapidly, undergone mergers, or have not maintained their registers consistently.

Statutory auditors are required to report under CARO 2020 whether physical verification of fixed assets has been conducted by management. An independent verification by NDS Advisors provides stronger audit evidence and reduces the risk of an adverse CARO comment on this matter.

Know exactly what you own, and where it is.

Talk to our team about a fixed asset tagging and verification engagement for your company, across all locations.