CASE STUDY: ASSET MANAGEMENT
A client had limited knowledge and skill on the optimal utilisation of asset management systems. This resulted in poor internal asset management control systems and a lack of synergy between planning, procurement, finance and asset function. The lack of understanding meant the client could not account for assets and this resulted in heavy financial losses.
HOW WE HELPED
We implemented an asset management system called LOGIS. This assisted the client to develop and implement an effective internal control environment. We also compiled an asset register on movable assets and created credible asset records and associated financials. The improvement of our client’s asset management systems saw more positive and sound audit feedback by the Auditor-General.
The improved knowledge on the importance of asset management within the business helped the client capacitate and fill their asset management structures. There was also more synergy between key stakeholder units and improved relations with clients.