Assets are usually an organisation's largest store of value and its biggest source of operational risk. Yet in many ministries, utilities, hospitals, banks and manufacturers the asset register is out of date, ownership is unclear and decisions to buy, repair or dispose are made without lifecycle information. External auditors, development partners and regulators increasingly expect assets to be recorded accurately, safeguarded and managed against stated objectives.

This course joins two disciplines that are often handled separately: the financial accounting and control of fixed assets, and the management system approach set out in ISO 55001. Participants begin with the asset register, the tagging and verification cycle, and the accounting policies that determine how assets are recognised, measured and written off. They then move to governance: who approves acquisitions, who is accountable for custody and condition, and how performance, risk and cost are reported. The later sessions explain the structure of an asset management system, including policy, objectives, planning, support, operation, evaluation and improvement, and how to prepare for internal and external audit.

Teaching uses sample registers with deliberate errors, control-testing exercises and policy templates. Participants finish with a working draft of their own asset governance framework and a prioritised improvement plan.

At the end of the training, participants will be able to:

• Establish and maintain a complete fixed asset register with unique identification and location data.
• Apply recognition, depreciation, revaluation and impairment rules consistently under IFRS or IPSAS.
• Plan and run physical verification and reconcile findings to the general ledger.
• Explain the requirements and structure of ISO 55001 and how they relate to ISO 55000.
• Define governance roles, delegations and approval limits across the asset lifecycle.
• Design internal controls to prevent loss, misuse and unauthorised disposal of assets.
• Use lifecycle cost and risk information to support acquisition, renewal and disposal decisions.
• Prepare asset records and evidence for internal and external audit.

The training is directed at people who account for, control, audit or manage physical assets, such as:

• Finance officers and accountants responsible for fixed assets
• Asset managers and facilities managers
• Internal and external auditors
• Procurement, stores and logistics officers
• Heads of finance and accounting officers in public institutions
• Maintenance and engineering managers
• Risk and compliance officers
• Project and infrastructure managers handing over completed works

Participants return to work with:

• A draft asset management policy and governance framework for their organisation.
• A template fixed asset register with the data fields auditors expect.
• A verification plan and reconciliation worksheet.
• A control matrix mapping asset risks to preventive and detective controls.
• A gap assessment against ISO 55001 clauses with priority actions.
• An audit-ready evidence checklist for asset records.

The course blends accounting practice with management-system design. Participants will take part in:

• Facilitated explanations of standards and accounting policies
• Hands-on register clean-up exercises using sample spreadsheets
• Control walk-throughs based on procurement-to-disposal cases
• Group gap assessments against ISO 55001 clauses
• Template-based drafting of policies, matrices and improvement plans

Vision Reach Global Consultancy awards a CPD-accredited Certificate of Completion to every delegate who attends the sessions and finishes the practical exercises.