Audit and Accounting > Fixed Assets

Fixed Asset registers vary in the detail of information and volume of records. In organisations with significant volumes of plant and machinery then IDEA can scan for problem items. Property based registers with significant detail are also worth examining.

The following are commonly used tests (grouped by type).


Provide a total of fully depreciated assets still in use


  • Cast (total) the file providing separate totals for cost, depreciation and net book values
  • Recalculate depreciation figures
  • Prove totals of additions and disposals and recalculate profits or losses on disposal
  • Recalculate expense and reserve amounts using replacement costs
  • Recap asset values, in amount order, by net or cost amount

Exception Tests

  • Identify items with a large Net Book Value
  • Supply details of where the depreciation rate is unusual
  • Test for dates being in the appropriate period
  • Identify assets transferred or acquired from group companies
  • Provide information for tax purposes
  • Identify items with zero or negative cost and items where depreciation exceeds cost
  • Items where description does not match coding
  • Extract assets with useful lives or depreciation rates beyond set norms
  • Identify fully depreciated items and assets higher than replacement costs


Test for duplicate reference numbers

Matching and Comparing

  • Compare book and tax depreciation and indicate variances
  • Compare actuals to budget to highlight any significant variances
  • Compare useful lives of assets by category


    Monetary unit or random samples for physical verification or checking additions