Tools for managing assets
A well-considered asset management framework enables asset-intensive companies to strengthen how they manage their physical assets and to increase their Return on Assets employed (ROAe). It provides the capabilities needed in improving decision and life-cycle processes for physical assets, IT infrastructure concepts, performance improvements, assurance, internal controls, and in gaining a better understanding of financing needs.
The audit committee experts we talked to have seen under-spent capital asset and maintenance budgets leading to assets not performing effectively and asset failure.
In their experience, these are the matters to watch out for when audit committees consider different aspects of asset management:
Aspect of asset management | Matters to watch for |
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Asset strategy and planning |
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Asset creation and acquisition |
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Asset operations |
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Asset maintenance |
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Asset renewal and disposal |
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Links to other asset management initiatives and support
- Government initiatives for asset-intensive entities are on the Treasury's website.
- New Zealand Asset Management Support (NAMS) is a non-for-profit organisation that supports the asset management community.