Audit PBC: fixed assets and depreciation
Asset additions, disposals, transfers, depreciation policy, and capex approvals commonly requested for the fixed asset cycle in audit.
What this template is for
Fixed assets testing ties purchases to capitalization policy, disposals to gain/loss, and depreciation to useful lives. This list is a pragmatic PBC starter for the FA rollforward.
When to use it
- Year-end audit when PP&E is material.
- CapEx-heavy years (facilities moves, fleet purchases, software capitalization).
Tips
- Separate book from tax depreciation schedules if your client maintains both.
Checklist preview
What this template asks for
These items are cloned into your workspace when you use the template. Edit anything before you send.
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Fixed asset register (beginning balances, additions, disposals, ending)
Required File uploadExcel export with asset class and in-service dates.
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Capitalization policy threshold and in-service criteria
File upload -
Invoices or board packs for major additions in year
File upload -
Disposal worksheets and proceeds evidence
File upload -
Depreciation expense tie-out to GL
Required File upload -
Construction in progress (CIP) listing if applicable
Long answerIf none, write “N/A”.
Add this to your workspace, then send when you are ready
We save it as a template so you can adjust items, choose a client, and send like any other request.