What is Asset Audit Service and how is it important for Organizations?
Marble Gross
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Asset auditing is a process of verifying the assets. These assets can include physical property like buildings, furniture and fixtures or software licenses, stocks, bonds and many more types of intangible possessions. Asset auditing helps a company to confirm and verify whether it possesses all the assets listed on a balance sheet or financial account.
What are the benefits of Asset Auditing?
To have a better control of things and keep track of every little detail it is a must that Companies involve in Asset Auditing. Let us understand the benefits of the same:
- Identify owned assets quickly and easily with visual inspection.
- Track asset location and details efficiently with Barcode/ QR Code /RFID labels.
- Save time and money in duplication of assets between departments.
- Increased security with regular tracking & monitoring.
- Reduction of theft with visual identification of assets with security labels.
- Monitor asset movement between locations.
- Compliance with insurance or government regulations.
- Schedule maintenance, service and replacement of owned assets.
- Helps to decide on capital expenditure decisions.
Author: Etta Howard
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