Fixed Asset Management Officer

Position Overview

The Fixed Asset Management Officer is fully responsible for the accurate recording, tracking, and reporting of all company fixed and intangible assets. The role ensures compliance with internal policies, IFRS/IAS 16 standards, and asset management best practices. The officer independently manages the end-to-end asset lifecycle, supports audit processes, monitors asset utilization, and ensures proper capitalization, depreciation, and control of company assets.

Key Responsibilities

Asset Recording & Reconciliation

• Record all asset acquisitions, transfers, capitalization, and disposals in the accounting system
• Maintain an accurate and up-to-date fixed asset register for all tangible and intangible assets
• Manage Asset Under Construction (AUC) accounts, track project costs, and transfer completed projects to fixed assets for capitalization
• Perform regular reconciliations between the fixed asset sub-ledger and the general ledger

Asset Verification & Compliance

• Conduct periodic physical verification of fixed assets and reconcile findings with system records
• Calculate and post depreciation, impairment, and related adjustments in line with IFRS/IAS 16
• Ensure compliance with internal controls, company policies, and accounting standards
• Prepare audit schedules and supporting documentation for internal and external audits

Reporting & Analysis

• Track capital expenditures and reconcile actual spend against approved budgets
• Prepare reports on asset utilization, performance, and asset lifecycle for management review
• Identify discrepancies, risks, or control gaps in asset records and implement corrective actions

Coordination & Process Improvement

• Work closely with Procurement, Projects, Finance, and Operations teams to ensure assets are properly recorded, safeguarded, and utilized
• Implement improvements to fixed asset processes, controls, and procedures