Fixed Assets Policy

[ghazoo]

AoA,

I am working for a new born construction company, during last audit our external auditor raised observation that company doesn't formalize their fixed assists policy. Company have rented corporate office, cars, furniture & fixtures and Computers nothing more than that. Can anyone give me specimen of this policy or idea how to formalize such policy.

Ghazanfar.

[danishayub_76]

Dear. If your company has acquired such items on rental basis and it considers that it is more economical then isn't it fine?