Asset Verification and Control Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Fixed Asset Accountants, Finance Managers and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 16 Nov 2026 Course code SD-FM-132

Before you join: Participants should understand basic accounting records, including the purpose of a general ledger, fixed-asset register, depreciation and supporting documentation.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Physical assets often sit across multiple sites, departments and custody arrangements while the fixed-asset register is maintained centrally. Differences between the register, general ledger and physical reality can create exposure to theft, unrecorded disposals, duplicate records, impaired assets, inaccurate depreciation and audit findings. Effective verification is not simply a count: it requires clear asset ownership, controlled count procedures, reliable evidence, disciplined reconciliation and timely corrective action.

This course teaches participants how to plan, conduct and control physical asset verification programmes for property, plant, equipment, IT assets, vehicles, furniture, tools and specialised operational equipment. Participants examine asset-register design, tagging methods, sampling, count-team control, exception investigation, reconciliation to the general ledger and reporting under IAS 16 principles. The course also addresses asset existence, condition, location, custody, ownership, idle assets, disposals and impairment indicators.

Teaching combines focused instructor briefings with realistic cases involving dispersed branch networks, public-sector equipment, manufacturing plant, bank IT hardware and NGO field assets. Participants work through count planning, evidence review, reconciliation schedules and exception reporting. They leave with a reusable asset verification control pack containing a verification plan, count instructions, reconciliation format, exception log, management report structure and corrective-action tracker.

The course is suited to finance, internal audit, asset management, operations and control professionals who coordinate or review asset verification. It is particularly relevant where asset records are incomplete, sites are geographically dispersed, annual counts produce recurring discrepancies, or auditors require stronger evidence over asset existence and control.

What you will be able to do

  • Design a risk-based physical asset verification plan for multiple locations and asset classes
  • Apply IAS 16 principles to assess asset recognition, depreciation, disposal and impairment evidence
  • Prepare fixed-asset register data for count selection, tagging and reconciliation
  • Conduct controlled asset counts using custody records, count sheets and independent checks
  • Investigate missing, surplus, damaged and incorrectly recorded asset exceptions
  • Reconcile physical count results to the fixed-asset register and general ledger
  • Evaluate asset-control design using COSO control activities and segregation-of-duties principles
  • Produce an asset verification report and corrective-action plan for management review

Benefits of attending

For you

  • Run physical verification assignments with defensible count procedures and evidence
  • Identify register weaknesses before they become audit qualifications or loss events
  • Resolve count discrepancies through structured root-cause investigation
  • Prepare reconciliation schedules that support finance and audit review
  • Build credibility when reporting asset-control issues to senior management

For your organisation

  • Reduced risk of ghost assets, unrecorded disposals and asset misappropriation
  • More reliable fixed-asset balances, depreciation charges and financial statements
  • Stronger audit evidence for asset existence, location and condition
  • Faster resolution of discrepancies through defined ownership and escalation routes
  • Better capital allocation through identification of idle, damaged and surplus assets

Course modules

10 modules over 5 days

Participants can define verification scope, asset populations and risk priorities for a controlled asset review.

  • Fixed-asset lifecycle mapped from acquisition approval through disposal and retirement
  • Property, plant and equipment definitions under IAS 16 and local policy
  • Custody, ownership and accountability distinguished for movable and installed assets
  • Asset classes, locations and custodians structured within the fixed-asset register
  • Materiality thresholds set for verification scope, investigation and management reporting
  • Risk assessment targets theft, ghost assets, idle equipment and misstatement

Participants can assess whether asset governance and internal controls support reliable verification results.

  • Asset management policy defines ownership, verification frequency and escalation requirements
  • COSO control activities applied to acquisition, transfer, custody and disposal
  • Segregation of duties separates recording, custody, approval and review responsibilities
  • Delegated authority limits established for write-offs, transfers and disposal approvals
  • Control matrices link asset risks to preventive and detective controls
  • Management attestations confirm local accountability for asset existence and condition

Participants can prepare a reliable asset population and data set before physical verification begins.

  • Mandatory register fields include asset identifier, cost, location and custodian
  • Unique asset identifiers prevent duplicate records and ambiguous count evidence
  • Data cleansing identifies blank locations, inactive custodians and duplicate serial numbers
  • Register extracts reconciled to capital expenditure, disposals and general ledger balances
  • Asset status codes distinguish active, idle, held-for-sale and retired items
  • Cut-off procedures address recent acquisitions, transfers and disposals before counting

Participants can select suitable identification methods and maintain traceability between assets and records.

  • Barcode labels support rapid identification, scanning and count-sheet matching
  • RFID tags considered for high-volume, mobile and restricted-access asset populations
  • Serial numbers, manufacturer plates and photographs provide supplementary asset evidence
  • Tagging standards specify placement, durability, replacement and identifier format
  • Untagged assets recorded through temporary identifiers and controlled follow-up actions
  • Location hierarchies connect sites, buildings, rooms, cost centres and custodians

Participants can produce a verification plan that allocates resources according to asset risk and materiality.

  • Verification objectives distinguish existence, completeness, condition and custody testing
  • Population stratification separates high-value, portable, sensitive and remote assets
  • Statistical and judgemental sampling compared for count selection and evidence strength
  • Count calendars coordinate site access, operational disruption and year-end reporting deadlines
  • Team assignments define counters, observers, reviewers and escalation contacts
  • Pre-count instructions control register freezes, movement restrictions and document retention

Participants can conduct physical counts that produce complete, reliable and reviewable evidence.

  • Count sheets control asset identifiers, locations, condition observations and signatures
  • Floor-to-sheet testing identifies unrecorded assets found during site inspection
  • Sheet-to-floor testing confirms recorded assets physically exist at stated locations
  • Independent recounts resolve material differences and challenge initial count results
  • Serial-number verification distinguishes similar equipment and reduces substitution risk
  • Movement logs capture assets transferred, issued or disposed during verification periods

Participants can document asset condition, usage and custody findings that affect accounting and control decisions.

  • Condition ratings classify assets as serviceable, damaged, obsolete or beyond repair
  • Custodian confirmations establish responsibility for portable and assigned equipment
  • Idle-asset reviews identify underused equipment, duplicate capacity and redeployment options
  • Impairment indicators assessed from damage, obsolescence, inactivity and physical deterioration
  • Photographic evidence standards document material defects, serial numbers and asset locations
  • Safety-critical equipment escalated where inspection findings indicate operational risk

Participants can reconcile count results to accounting records and investigate discrepancies to a documented conclusion.

  • Three-way reconciliation compares count results, fixed-asset register and general ledger
  • Exception categories separate missing, surplus, mislocated, damaged and duplicate assets
  • Root-cause analysis uses the five whys and evidence-based investigation records
  • Missing asset investigations review transfer forms, disposal approvals and custody changes
  • Surplus assets assessed for capitalisation, ownership, tagging and register inclusion
  • Reconciliation adjustments supported by approved journals, write-offs and register amendments

Participants can determine required accounting actions and assemble evidence for management and audit review.

  • IAS 16 derecognition requirements applied to disposals, losses and retired assets
  • Depreciation records reviewed when useful lives or residual values require revision
  • Impairment assessment considers physical damage, obsolescence and discontinued operations
  • Disposal files retain approvals, sale records, destruction certificates and asset identifiers
  • ISA 501 principles inform auditor expectations for attendance and count observation
  • Audit trails connect physical evidence, reconciliation schedules, adjustments and approvals

Participants can report verification results clearly and establish corrective actions for the next control cycle.

  • Verification reports present scope, methodology, findings, exceptions and financial impact
  • Exception dashboards track ageing, ownership, status and overdue corrective actions
  • Control deficiencies prioritised by financial exposure, fraud risk and recurrence
  • Corrective-action plans assign accountable owners, deadlines and evidence requirements
  • Key performance indicators measure register accuracy, closure rates and count completion
  • Annual verification calendars align continuous checks with financial reporting milestones

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. Risk-based asset verification plan template
  2. Physical count instruction checklist
  3. Fixed-asset register data-quality checklist
  4. Asset count reconciliation schedule
  5. Exception investigation and root-cause log
  6. Corrective-action and management-report template

Who should attend

  • Fixed Asset Accountants — responsible for maintaining accurate asset records and reconciliations
  • Finance Managers — accountable for asset balances, depreciation and financial reporting
  • Internal Auditors — assessing existence, custody and control effectiveness
  • Asset Managers — coordinating asset records, tagging and verification programmes
  • Operations Managers — accountable for equipment held across sites and teams
  • Procurement and Stores Managers — controlling receipt, transfer, custody and disposal records

Skills and tools covered

Asset verification planningFixed-asset reconciliationCount control proceduresException investigationAsset register governanceControl remediation

Tools and standards

IAS 16 Property, Plant and Equipment, COSO Internal Control—Integrated Framework, ISA 501 Audit Evidence—Specific Considerations for Selected Items, Five Whys root-cause analysis

How the course runs

Training methodology

The course uses short instructor briefings to establish accounting requirements, control principles and verification methods. Participants analyse asset-register extracts, count documentation and discrepancy scenarios drawn from branch networks, field operations and equipment-intensive businesses. Group work applies risk assessment, count planning, reconciliation and root-cause analysis to realistic cases. Simulations test count-team controls, evidence handling and exception escalation. Each participant develops an application plan for strengthening verification and reconciliation procedures in their own asset environment.

Requirements and prerequisites

Participants should understand basic accounting records, including the purpose of a general ledger, fixed-asset register, depreciation and supporting documentation. Experience in finance operations, internal audit, asset management, procurement, stores or site administration is helpful. Participants should be comfortable reviewing spreadsheets and reconciling lists of records. Prior knowledge of IAS 16, audit sampling, barcode systems or RFID technology is not required; these are introduced where relevant. The course does not require advanced financial reporting expertise or specialist valuation qualifications.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants need basic familiarity with accounting records and the purpose of a fixed-asset register. Knowledge of IAS 16, audit sampling, barcode systems or RFID is helpful but not required.

Bring a laptop if available, along with examples of your asset register fields, count forms or recurring reconciliation issues. Do not bring confidential asset lists unless your organisation permits their use in a training setting.

It suits fixed-asset accountants, finance managers, internal auditors, asset managers, operations managers and stores personnel. It is useful for professionals who prepare, coordinate, supervise or review physical asset counts.

Fixed-asset accounting courses focus mainly on capitalisation, depreciation, impairment and financial reporting. This course concentrates on proving physical existence, controlling custody, reconciling records and resolving count exceptions, while using relevant IAS 16 principles.

Participants can use the templates to plan an upcoming count, assess register quality and introduce clearer exception ownership. The methods also support audit preparation, branch verification, equipment handovers and disposal reviews.

Each training day runs from 08:30 to 16:30 and provides about 6.5 contact hours. Time is divided across ten modules covering planning, count control, reconciliation, accounting treatment, reporting and corrective action.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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