ASC Group UAE offers specialized Physical Verification Services for fixed assets and inventory, ensuring your financial records accurately reflect operational realities. By physically validating assets across locations, we help organizations prevent misstatements, uncover discrepancies, and meet internal control requirements essential for audits, compliance, and strategic decisions
Aligns book entries with actual existence
Meets audit expectations and regulatory documentation needs
Identifies ghost assets and missing stock
Reduces overhead and enables reallocation of idle or non-performing assets
Supports reconciliation of physical counts with system data
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Key Regulations & Frameworks – Reference Applications
| Regulation / Framework | Application / Purpose |
|---|---|
|
UAE Commercial Companies Law (CCL) |
Requires businesses to maintain accurate financial and asset records |
|
International Financial Reporting Standards (IFRS) |
Prescribes impairment and revaluation procedures that rely on asset accuracy |
|
FTA VAT Law |
Necessitates precise inventory records for VAT treatment and input claims |
|
Internal Control Frameworks (COSO/ICFR) |
Recommends periodic verification to support control testing and audit reliability |
|
Free Zone Regulatory Requirements |
Calls for fixed asset verification as part of operational and licensing audits |
FTA (Tax Authority)
UAE CCL
External Auditors
Insurance & Regulatory Bodies
AED 10,000–50,000 for VAT errors linked to inventory mismatches
Fines up to AED 500,000 for incorrect disclosures involving fixed assets
Qualified audit opinions for unverifiable assets
Claim rejection or penalty for unverifiable losses or asset misstatements
Inaccurate inventory records lead to tax misstatements or refund rejections
Inaccurate physical records impact depreciation, financial reporting, and audits
Discrepancies between financial and physical records raise audit red flags
Verifiable records are required for insurance claims and regulatory compliance
At ASC Group, we combine on-ground expertise with documentation accuracy to provide a holistic verification service that bridges the gap between physical existence and accounting books.
Our Physical Verification Execution Approach
Understand client asset categories, locations, and verification scope
Collect current FAR/Inventory ledgers for preparation
Timeline: Based on entity size and spread
On-site deployment of teams for verification and tagging
Identification of discrepancies and asset status updates
Timeline: Scheduled as per client convenience
Match physical data with accounting registers
Identify missing, moved, or retired assets
Timeline: Within days of field execution
Deliver a comprehensive verification report and adjustment support
Suggest corrective measures and controls for improvement
Timeline: Agreed at project initiation
Precision-Driven Asset Verification Backed by Compliance Expertise
Independent physical verification
Trained field teams capable of verifying assets across complex environments
Focus on control integrity and record reliability, aligned to audit expectations
Insightful variance analysis with remediation support
Trusted by CFOs, audit committees, and regulatory-facing enterprises in the UAE
Our Commitment: Your financial controls are only as reliable as the assets they report. ASC Group ensures you can verify every number, every time.
ASC Group UAE – Ground Truth for Your Financial Records: Verified Assets. Accurate Books. Confident Decisions.
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