Asset Management is one of the primary service that Clyrotrim Financial Solution provides to its clientele as a specialized area of expertise. Our clients in the public and private sectors can take advantage of our Asset Management service, which includes the compilation of Asset Registers that are compliant with GRAP, IFRS, IAS16, and mSCOA reporting standards. The full range of asset management and inventory-related services, including asset tracking, will continue to be the primary focus of our business strategy and attention. In this arena, we have a formidable strength and depth of relevant experience, as well as a track record of successfully delivering on significant and strategic assignments on a national scale.

Clyrotrim will assist the client in ensuring that the Fixed Asset Register is in compliance with a variety of acts and regulations (IFRS, GRAP), including policy and standard operating procedure processes and manuals, by ensuring that the following are performed. In doing so, Clyrotrim will help the client ensure that the Fixed Asset Register is in compliance with the aforementioned acts and regulations.

Physical Verification of Assets

Compliance

Fleet Management

Assets are barcoded and scanned

Reassessment of useful life

Assets reconciliation

UPDATING AND MAINTENANCE OF COMPLIANT FIXED ASSET

REGISTER

Review and propose revisions and improvements to the Asset Management Policy Update on an annual basis, and keep the work in progress (WIP) register up to date with capital spending and any other movements that may occur within WIP.

All other donated assets from other branches of government and private parties should be capitalized.

On a regular basis, conduct physical verification and inspection of the asset portfolio (including servitudes) to:

Assess the assets' condition.

Assess and determine the asset's useful life.

Assess the assets and determine their residual value.

Determine which assets are at risk.

To determine whether an indicator of asset impairment was triggered for all assets at the reporting date.

Maintain and update the asset register

Asset disposal and write-offs