PHYSICAL VERIFICATION OF ASSETS
“Globaloutsourcingtoindia” integrated with physical verification capabilities meet the industry standards for accuracy, reliability, and performance which ensures you can complete your design rule checking quickly and efficiently .Physical Verification System is a trusted solution that enables users to achieve design in a quick total turnaround time. It provides efficient, effective debug tools to reduce debug time and increase productivity.
We, at “Globaloutsourcingtoindia”, have a competent team of auditors and supervisors who on behalf of clients undertakes the task of physical verification of assets of a company. Taking up the time consuming task of physical verification, our professionals offer reliable physical verification of assets for the same in the area of observing, counting, listing and evaluating the assets belonging to the company such as cash in hand, stocks and shares, fixed assets, inventory, policies and bonds & contracts and many more. Inventory reductions can lead to significant savings and increased performance provided the right approach is taken. Inventory is often a company's largest current asset and the single largest contributor of working capital requirements. If inventory is properly managed, working capital requirements are reduced and cash flow is increased, enhancing the organization's chances to prosper and grow. On the other hand, mismanagement of inventory often leads to declining cash flow and a loss in market share to competitors.
Process conducted by our auditors confirms that a company's assets actually exist and observation, listing, counting, and measuring of the assets of a company, such as Inventory, fixed assets, cash on hand, stocks, or bonds, and also other items as insurance policies and contracts.
"Outsource Physical verification of assets to us and take a step ahead in today’s cut throat competitive business world that does not negotiate growth."
We at "Globaloutsourcingtoindia" offer a distributed multi-threading processing capability that greatly accelerates your business operations throughout without requiring specialized hardware.
OBJECTIVE (SVVIC)
- Statutory Compliances – CARO 2003
- Verify Existence of Assets
- Valuation – Accounting for any discrepancy
- Internal Compliances
- Critical for Continuous Customer Service
METHODOLOGY
Planning
- Preparation of Daily plan and overall plan
- Obtaining the FAR, Provisional Capitalization, CIP (Book Records)
- Obtaining the assets
- Preparation of Master List
- Obtaining the assets location
- Obtaining the Local staff & Area supervisor Contact Details
- Contact details for Escalations
- Preparation of Physical verification Check List
- PV Checklist escalated with the Local Management which is in compliance with Corporate instructions
- Audit Tags (Imported Polyester material with Raisin Ink)
- Authorization Letter
Field activity
- Trained Team members for identification of assets.
- Visits planned along with the SPOC person.
- Checklist is duly filled and signed both by the Team Member and SPOC Person
- Daily update to the management (regarding coverage, issue & challenges, if any)
- Sign off on completion
Report preparation
- Consolidate physical report of fixed assets
- Perform reconciliation between physical count and book count
Compute the differences and indentify the reasons
- Location to location Movement
- Location to Warehouse Movement
- Assets sent for repair
- Shortage / Excess
Physical Verification Report
- Summary Asset Wise Report
- Detailed Report
- Observations and Recommendations/ Resolutions
- List of assets to be capitalized/ written off
- Includes both verifiable and non-verifiable assets
- Verifiable assets are further classified into tagable and non-tagable assets
FORWARD ADVANTAGES BY OUTSOURCING TO US :
- Trusted solution with production-proven accuracy
- Single-vendor solution for implementation and pre-tape out signoff
- Quick turnaround time from design to signoff through integration
- Reduced debug time with powerful and intuitive debugging tools
- Simplified migration through compatibility with industry-standard formats
- Cost-effective parallel computing systems eliminate need for hardware modifications