According to CARO (Companies Auditor's Report Order) 2020, management is responsible for the physical inspection of fixed assets.

Tagging assets is a crucial step in confirming their actual existence and keeping track of their whereabouts in real time. This is also a crucial step in ensuring that any lost assets are quickly recognised. Asset tagging helps eliminate the danger of assets being syphoned off or misappropriated.

There are numerous techniques for tagging assets: - Manual tagging – in this approach, assets are manually labelled and computerised records are kept of every asset tagged.

Tagging using a barcode makes it easier to read with a barcode reader, and it's also simple to see any adjustments. RFID tagging, where RFID stands for "Radio Frequency Identification," is another option. RFID tags enable the real-time monitoring of any asset's whereabouts. An app or piece of software may monitor any changes to the asset's location.

To ensure that their customers get the finest and most appropriate approach tailored to their needs, Densat serves as an asset tagging specialist and helps in the formulation of asset tagging regulations.

https://densat.com/things-you-can-do-with-your-asset-tagging/