Reconciliation
Lockwood offers a comprehensive fixed asset verification & reconciliation service. The service is designed with the intent of; improving the quality of the existing ledger information and improving the process flows that impact asset information as it flows throughout the typical asset life cycle. This requires objective assessment of the ledger contents and the business rules (internal controls) that support internal asset management. Lockwood has successfully refined this service over the past ten (10) years with our many customer engagements throughout the world. Lockwood charges an inclusive fixed fee for this service, which is usually charged as a percentage of the remaining net book value of the full fixed asset ledger. The degree of percentage is dependent upon the scope and complexity of the ledger contents. A typical fixed asset verification engagement would require anywhere from one-three (1-3) months - start to finish, depending upon the scope and complexity of the project.
The fixed asset verification service is comprised of five (5) stages:
- Ledger review and analysis
- Verification planning
- Physical asset verification
- Information management
- Asset management education