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At the end of each financial year the Head of Department is required to sign a year-end certificate for their department; this includes certifying that the Fixed Asset Register holds the correct number and type of assets held in the department.

Best practice recommends that departments perform a physical verification of the assets listed at least once a year and notify the Fixed Asset Helpdesk of any changes required. Such amendments may be submitted at any time.

However, to support best practice and the certification of assets in the department, Central and Research Accounting conducts a bi-annual review of departmental assets and records. In February and June each year full lists of assets registered to each department are distributed to the relevant departmental contacts. This list enables departments to verify the presence of assets and identify updates to ancillary information such as location and employee.

Once asset details have been verified departments should return the review sheets - within the stated timetable- with details of any amendments required to their Fixed Asset Register. This helps to ensure that UFS assets records and associated accounting is as accurate as possible.

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