Public bodies and companies are under growing pressure from auditors, boards and regulators to show that they know what assets they own, where those assets are, what condition they are in and what they are worth. Accrual accounting reforms in the public sector, tighter audit scrutiny and rising maintenance costs have exposed weak fixed asset registers and fragmented responsibility between finance, procurement and operations teams.

The Professional Asset Management (Fixed Assets, ISO 55001) Training Course treats asset management as a single discipline that runs from acquisition to disposal. Participants first establish the control framework: policies, capitalisation thresholds, classification, tagging and the asset register itself. They then apply the accounting requirements of IAS 16 and IPSAS 17, including useful lives, depreciation methods, revaluation and impairment. The second half of the week introduces ISO 55001, showing how a management system approach links organisational objectives to asset plans, risk, lifecycle cost and performance, and how maintenance and replacement decisions can be justified with evidence rather than habit.

Learning is built around case registers, depreciation schedules and audit findings typical of government agencies, utilities and private firms. Participants finish with a register improvement plan and the outline of a strategic asset management plan for their own organisation.

Delegates will be equipped to:

• Design a fixed asset policy covering capitalisation, classification, custody and disposal.
• Build and maintain an accurate asset register supported by tagging and physical verification.
• Apply IAS 16 and IPSAS 17 to recognition, depreciation, revaluation and derecognition.
• Assess assets for impairment and record the results correctly.
• Interpret the requirements of ISO 55001 and map them to existing practice.
• Use condition, risk and lifecycle cost data to prioritise maintenance and replacement.
• Prepare an organisation for an internal audit of its asset management system.

The programme brings together the finance, technical and control roles that share responsibility for assets:

• Fixed asset accountants and financial controllers
• Asset managers, asset registrars and stores officers
• Fleet, facilities and estates managers
• Maintenance and reliability engineers
• Procurement and disposal committee members
• Internal auditors and audit committee staff
• Finance officers in ministries, local governments, state corporations and utilities
• Operations managers in hospitals, universities, manufacturing and telecoms

Participants return to work with:

• A fixed asset policy template adapted to their organisation.
• A register data standard with mandatory fields and a coding structure.
• A physical verification and reconciliation procedure.
• Worked depreciation, revaluation and impairment schedules.
• An ISO 55001 gap assessment checklist.
• A draft outline of a strategic asset management plan.

Sessions combine accounting practice with management system thinking. The approach uses:

• Worked registers, depreciation schedules and impairment cases in Excel
• Clause-by-clause walkthroughs of ISO 55001 with gap assessment practice
• Analysis of audit findings drawn from public sector and corporate settings
• Group exercises bringing finance and technical perspectives together
• An end-of-week action plan reviewed with the facilitator

Each delegate who attends the full programme and completes the register, accounting and gap assessment exercises receives a CPD-accredited Certificate of Completion issued by Vision Reach Global Consultancy.

The certificate confirms completion of this training; it is not an ISO 55001 auditor qualification.