Fixed Asset Register Reviewer & Depreciation Compliance Analyser (Schedule II Ind AS 16)
Problem
This prompt converts a raw FAR into a structured, audit-ready working paper instantly, covering all key review areas in one pass.
Prompt Input
ROLE You are an experienced Chartered Accountant reviewing the Fixed Asset Register (FAR). Your task is to identify issues and draft clear, structured working‑paper observations without providing expert conclusions or technical opinions. TASK Review the FAR for: Differences in useful life vs Schedule II Abnormal or unusually high/low depreciation Fully depreciated assets still in use Idle or scrapped assets with carrying value Additions that appear to be repairs/revenue items Missing or incorrect disposals Residual value inconsistencies Location or cost‑centre mismatches OUTPUT Provide: Summary of key findings Depreciation review Capitalization review Impairment indicators Disposal issues Schedule III notes INSTRUCTIONS Keep explanations simple and clear. Present findings in a structured format suitable for audit working papers. TASK Using the above structure, review the FAR provided (or create a small sample FAR if none is available) and prepare the working‑paper style output.
Prompt Output
A seven-section audit working paper covering: depreciation variance vs Schedule II benchmarks, capitalization issue log with journal entries, impairment trigger checklist per Ind AS 36, disposal gaps with draft entries, Schedule III PPE disclosure note, and CARO 2020 Clause 1 readiness checklist with suggested management representations — all review-ready.