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
Revised and Updated: 23 October 2026
Date Venue Duration
18 - 20 November 2026 Pretoria, Gauteng 3 Days
25 - 27 January 2027 Sandton, Gauteng 3 Days
15 - 17 March 2027 Sandton, Gauteng 3 Days
28 - 30 April 2027 Sandton, Gauteng 3 Days
21 - 23 June 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

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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.

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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

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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 Standards of Generally Recognised Accounting Practice (GRAP 17, GRAP 21, GRAP 26, GRAP 31) relating to property, plant, equipment, intangible assets, impairment testing, asset registers, and depreciation accounting.
Who should attend this GRAP Asset Accounting and Management training?
This training is designed for municipal financial officers, fixed asset accountants, internal auditors, supply chain practitioners, technical engineers, and public sector managers responsible for infrastructure and asset lifecycles.
How does this course assist public sector entities in maintaining compliant asset registers?
Delegates learn how to reconcile fixed asset registers with general ledgers, record asset additions, disposals, and componentisation correctly, and maintain verifiable audit trails for all municipal or governmental assets.
Will delegates learn how to conduct asset impairment tests under GRAP 21 and GRAP 26?
Yes. The curriculum explores identifying cash-generating and non-cash-generating assets, calculating recoverable service amounts, determining impairment losses, and processing accurate accounting adjustments.
Does the masterclass address infrastructure asset management and depreciation?
Yes. Practical sessions cover assessing useful lives, residual values, and depreciation methods, as well as integrating physical asset management practices with statutory financial accounting requirements.
Why is mastering GRAP asset accounting essential for public institutions?
Rigorous compliance with asset accounting standards ensures clean audit outcomes from the Auditor-General, optimizes infrastructure lifecycle value, and ensures accountable stewardship of public funds and assets.

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