non current assets

The register is a “memorandum” record – totals should agree to the balances in the asset cost and depreciation a/cs in the general ledger, but it is not part of the double-entry bookkeeping system.

It’s a source of evidence – not a source “document” (like a purchase requisition).

During the year, management (and/or internal audit) will carry out routine checks on the existence of assets – this is an internal control. The source for this will be the asset register. Suppose the inspector sees that an asset is not in use and should be disposed of – that would be noted in the register – so this would then be confirmed by the auditor – whether there were disposal proceeds.