GRAP Asset Accounting and Asset Management

GRAP Asset Accounting and Asset Management

Build an Audit-Ready GRAP Asset Register and Avoid Common AGSA Findings

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Platform:
Online
In-class
Date Venue Duration
28 - 30 October 2026 Sandton, Gauteng 3 Days
18 - 20 November 2026 Pretoria, Gauteng 3 Days
25 - 28 January 2027 Sandton, Gauteng 4 Days
15 - 17 March 2027 Sandton, Gauteng 3 Days
28 - 30 April 2027 Sandton, Gauteng 3 Days

Course Introduction

There are various GRAP Asset Accounting standards that need to be considered when preparing GRAP-compliant Annual Financial Statements and Fixed Asset Registers. The purpose of this training is to provide participants with the skills to apply the various accounting standards in practice. The GRAP Asset Accounting and Asset Management training will include examples commonly found in local government and tailored case studies that illustrate the application of the various accounting standards.

Course Objectives

  • Have a good understanding of the asset-related GRAP standards
  • Understand how the asset-related GRAP standards are implemented
  • Understand what changes are required to the chart of accounts
  • Understand the impact of assets on the budget
  • Better understand what information is required in a fixed asset register
  • Have a better understanding of how to maintain asset information
  • Identify and correct the specific asset register weaknesses that most commonly trigger AGSA audit findings

Who should attend?

This course is tailored for:
  • Directors/Officers
  • Financial Managers
  • Asset Managers/Officers
  • State Accountants
  • Chief Financial Officers
  • Managing Directors
  • Line Managers
  • Risk Managers
  • Supply Chain Practitioners
  • Procurement Officers
  • Maintenance Personnel
  • Treasury Clerks
  • Fleet Management
  • Facilities Management
Finance Courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: The Asset Life-Cycle and Asset-Related GRAP Standards

The Asset Life-Cycle Process
  • Asset planning and budgeting
  • Asset acquisition and creation
  • Operation and maintenance of assets
  • Disposal and replacement of assets
  • Asset risk management
Asset-Related GRAP Standards (Definitions, Recognition Requirements, Practicals, Examples)
  • GRAP 17: Property, Plant, and Equipment
  • GRAP 31: Intangible Assets
  • GRAP 21: Impairment of Non-Cash-Generating Assets
  • GRAP 26: Impairment of Cash-Generating Assets
  • GRAP 16: Investment Property
  • GRAP 13: Leases
  • GRAP 103: Heritage Assets
  • GRAP 12: Inventories
  • GRAP 3: Accounting Policies, Errors, and Estimates
  • GRAP 1: Presentation of Financial Statements

Day 2: Practical Application

Practical Considerations
  • Asset acquisition
  • Asset valuation and value sustainability
  • Asset maintenance
  • Asset disposal
Impact on Budgeting and Systems
  • What changes are required to the chart of accounts
  • The impact of assets on the budget

Day 3: Building an Audit-Ready GRAP Asset Register

Preparing and Maintaining a GRAP-Compliant Asset Register
  • What information is required in a fixed asset register
  • How to maintain accurate, current asset information
Addressing Common AGSA Audit Findings on Asset Registers
  • Lumped (‘globular’) asset records that obscure individual asset detail, and how to disaggregate them correctly
  • Assets that cannot be physically verified: strengthening asset tagging, location tracking, and verification processes

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Success Stories

Discover how our courses enhance professionals’ effectiveness in their workplaces.

uMngeni-uThukela Water

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What made the sessions exceptionally helpful was the deliberate focus on actionable strategies rather than just high-level concepts. The structured approach kept the content engaging. It was a highly impactful professional development experience.

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It has been a really fruitful and helpful training. Many thanks to PROSPEN AFRICA and the facilitator Olufemi. This is definitely going to make my work life easier and meaningful.

Northam Booysendal Mine

Mastering Payroll Preparation, Analysis, and Management

The course really taught us deep in to Payroll and made us aware of things we were not aware of.

Telekom Networks Malawi PLC

Financial Analysis, Modelling and Forecasting

The training was very insightful and the facilitator was very engaging which made everything easier to understand and follow. It has really equipped us in our areas of lack and we feel confident now on our next assignments on forecasts and analysis

Magalies Water

GRAP training

The course was practical, informative and relevant

FAQs – GRAP Asset Accounting and Asset Management

Master GRAP asset accounting, standards implementation, lifecycle management, chart of accounts integration, and asset registers to resolve audit findings and optimize municipal budgeting.

What topics are covered in the GRAP Asset Accounting and Asset Management course?
The course covers the full asset life-cycle, asset-related GRAP standards (including GRAP 17, 31, 21, 26, 16, 13, 103, 12, 3, and 1), chart of accounts integration, budget impact, maintaining GRAP-compliant asset registers, and resolving common AGSA audit findings.
Who should attend the GRAP Asset Accounting and Asset Management course?
This training is ideal for Directors, Financial Managers, Asset Managers/Officers, State Accountants, Chief Financial Officers, Line Managers, Risk Managers, Supply Chain Practitioners, Procurement Officers, Maintenance Personnel, Treasury Clerks, Fleet Management, and Facilities Management.
How does this course help resolve AGSA audit findings?
Delegates learn to identify and correct specific asset register weaknesses that trigger AGSA audit findings, including disaggregating lumped ('globular') records and strengthening physical verification, asset tagging, and location tracking processes.
How long is the GRAP Asset Accounting and Asset Management course?
The course is structured as a comprehensive 3-day practical training programme covering asset lifecycle fundamentals, GRAP standards implementation, budgeting systems, and audit-ready asset register maintenance.
What practical skills will delegates gain from this training?
Delegates gain practical skills to implement asset-related GRAP standards, restructure the chart of accounts, evaluate budget impacts, maintain fixed asset registers, manage value sustainability, and execute disaggregation and asset tagging procedures.
Can Prospen Africa deliver this course as customized in-house training?
Yes. Prospen Africa can tailor this training masterclass around your municipality or public sector entity’s specific asset registers, chart of accounts, policy frameworks, and AGSA audit history.

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