Helping organisations improve FAR accuracy, eliminate ghost assets, review capitalisation practices, verify CWIP balances and build audit-ready fixed asset records.
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Inaccurate fixed asset registers lead to misstated depreciation, audit observations and poor asset visibility. Here are the issues we fix most often.
A comprehensive range of services to clean up, standardise and maintain your fixed asset register.
Identify and fix duplicate entries, incorrect data and stale records in your fixed asset register.
Verify capital work-in-progress balances and flag items pending capitalisation.
Ensure assets meet capitalisation thresholds and are correctly classified per accounting standards.
Normalise naming, coding and data fields across your asset register for consistency.
Review and update useful lives to reflect actual asset condition and usage patterns.
Identify assets that have been retired or disposed but not yet removed from the FAR.
Locate assets recorded on paper that no longer exist physically at your sites.
Correctly link component assets to parent assets for accurate depreciation and reporting.
A structured, proven approach that delivers a clean and audit-ready fixed asset register.
Gather existing asset register data and review current FAR structure and quality.
Standardise asset categories, naming conventions and data fields for consistency.
Support on-ground physical verification to reconcile records with physical existence.
Review capital work-in-progress and ensure timely capitalisation of completed assets.
Validate useful lives and depreciation methods against accounting standards and actuals.
Reconcile FAR with general ledger, make agreed corrections and close all gaps.
Deliver a clean, reconciled and fully documented fixed asset register ready for audit.
Our consultants have delivered fixed asset engagements across a wide range of sectors in India.
Organisations that invest in a clean fixed asset register see measurable improvements across finance, audit and operations.
TagMyAssets combines deep accounting expertise with hands-on physical verification, professional asset tagging and precise FAR reconciliation — giving you a complete, end-to-end fixed asset solution under one roof.
Deep knowledge of Ind AS, Companies Act and depreciation standards
On-ground teams to verify and reconcile assets across all locations
Barcode, QR and RFID tagging solutions for full traceability
Thorough reconciliation between physical records and GL balances
Learn more about our end-to-end fixed asset and inventory management services.
Answers to common questions about fixed asset consulting.
Fixed Asset Consulting Services help organisations review, clean up and maintain an accurate Fixed Asset Register (FAR). This includes identifying ghost assets, correcting depreciation errors, reviewing CWIP, and ensuring the FAR is audit-ready and compliant with applicable accounting standards.
FAR Clean-Up is the process of identifying and correcting errors in a Fixed Asset Register — including duplicate entries, incorrect asset classifications, wrong useful lives, missing records and assets that no longer exist. The goal is a clean, accurate and consistent register that reflects the true state of your assets.
CWIP (Capital Work-in-Progress) Verification involves reviewing the CWIP account to identify projects or assets that have been completed but not yet capitalised, and ensuring all balances are accurate, properly supported and ready for transfer to the fixed asset register.
Asset useful lives directly affect depreciation calculations. If lives are incorrectly set, depreciation charges will be misstated, impacting financial reporting and tax positions. A periodic Asset Life Review ensures depreciation reflects the actual condition and usage patterns of each asset category.
Yes. A clean, reconciled and well-documented FAR significantly reduces audit observations related to fixed assets. Our consulting process is specifically designed to deliver an audit-ready asset register with full supporting documentation, giving your auditors confidence in your asset disclosures.
Talk to our consultants and get a custom proposal for your organisation.
