Fixed Asset Management
Kroll has established best practices in fixed asset management that are recognized across our profession.
We also maintain an IT consulting staff dedicated specifically to fixed asset management services, such as data and software conversions, as well as to provide clients with access to their data via the internet.
Fixed Asset Management Services for Corporate Decision-Makers
While fixed asset management services will assist corporate decision-makers in meeting external audit and regulatory standards, they can also be extremely beneficial in meeting their firm’s capital budgeting, financial and risk management reporting requirements. Additionally, the identification of unrecorded retirements ghost assets and their elimination from the books may result in a substantial reduction in their property taxes.
Public and private sector clients have different fixed asset inventory and reporting challenges. However, both rely on accurate information to account for, control and manage their real and personal property assets. Our specialists draw upon deep experience and leading-edge technology to help clients account for and manage their fixed assets.
Kroll routinely performs detailed diagnostic studies, a low-cost way of finding out if a client’s fixed asset accounting records are adequate. If a problem exists, we recommend the appropriate path, which can range from a limited study to confirm the continued existence of a small sample of their fixed assets to an exacting wall-to-wall physical inventory and reconciliation of the assets to their fixed asset accounting ledger.
A crucial aspect about fixed asset accounting records is that over time inaccuracies accumulate, thereby undermining the reliability of this critical management tool. Clients invest a significant amount of time, effort and money in the creation of their fixed asset accounting records, and we can help them perpetuate that investment through the provision of fixed asset outsourcing services.
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Our Expertise
- Pinpointing strengths and vulnerabilities
We perform property tax studies to ensure that assets reported for property tax purposes are accurate. By properly identifying transfers, misclassifications and ghost assets, our professionals can help lower property taxes. -
Ensuring compliance
We compare our client’s current fixed asset management system with both best practices and compliance with applicable standards. - Evaluating or managing electronic fixed asset accounting system
We provide verification, compilation and annual updating services that are designed to help our clients maintain a complete and accurate record of their fixed assets for accounting and insurance purposes.
- Advising on policy and focusing on employee awareness training
Drawing on our experience from hundreds of engagements, our professionals can assist in the preparation of a policy and procedures manual, as well as provide hands-on training for all levels of personnel. -
Identifying opportunities to claim accelerated depreciation
We have handled cost segregation studies to assist corporations in properly segregating building/renovation costs and depreciation on a component-by-component basis. We possess the engineering, construction, valuation, and regulatory backgrounds to maximize potential benefits. - Establishing accurate insurable values
We provide insurable values to help determine replacement costs and/or actual cash value coverages and post-loss services.
Kroll Expert Shares Insights With AM Best on Asset Management
Kroll Managing Director, Matthew Donahue, Fixed Asset Advisory Services, recently discussed the impact of technology, inflation and regulatory changes on asset management with AM Best.
Listen to the Full Interview Here
Stay Ahead with Kroll
Fixed Asset Inventory and Reconciliation
Kroll is an industry leader in fixed asset inventory, tagging, and reconciliation services.
IT Asset Inventory Tracking and Management
Kroll high-quality IT asset inventory data allows clients to improve asset tracking, and effectively manage the total cost of technology ownership.
Property Insurance Valuation Platform
Kroll’s Property Insurance Valuation Platform is a robust online tool that provides high-speed, cost-effective, and trusted valuations on property data at scale in seconds.
Property Management Consulting
Kroll provides property management consulting services to help clients across the globe achieve capital asset management goals, comply with internal and external regulatory requirements and satisfy auditor scrutiny.
Building Componentization
Kroll provides comprehensive building componentization services that can increase indirect cost recovery.
Baseline Asset Inventory Services
We provide baseline inventory and tagging services that establish a quality foundation for tracking assets - not just for financial purposes, but also the operational objectives associated with Information Technology Asset Management (ITAM) and Enterprise Asset Management (EAM).
Property Record Outsourcing
Our e-PRAIS® property record outsourcing services assist clients in maintaining and perpetuating complete and accurate fixed asset accounting records for accounting and insurance purposes.
