The process of updating the asset register in a company typically involves the following steps:

1. Identification of Assets: The first step is to identify all the assets of the company. This is usually done by the asset manager or the person responsible for managing the company's assets.

2. Categorization of Assets: Once all the assets are identified, they are categorized based on their type, such as tangible or intangible, fixed or current, etc. This is also done by the asset manager.

3. Recording of Asset Details: The next step is to record the details of each asset, such as its purchase date, cost, estimated useful life, etc. This is usually done by the finance or accounting department.

4. Updating the Asset Register: The asset register is then updated with the details of the new assets. This is usually done by the finance or accounting department.

5. Verification of Asset Register: The asset register is then verified to ensure that all the details are correct and up-to-date. This is usually done by the internal audit department.

6. Approval of Asset Register: The updated asset register is then approved by the senior management of the company.

The person(s) responsible for updating the asset register in a company are usually the asset manager, the finance or accounting department, the internal audit department, and the senior management. The exact roles and responsibilities may vary depending on the size and structure of the company.

Question

The process of updating the asset register in a company typically involves the following steps:

1. Identification of Assets: The first step is to identify all the assets of the company. This is usually done by the asset manager or the person responsible for managing the company's assets.

2. Categorization of Assets: Once all the assets are identified, they are categorized based on their type, such as tangible or intangible, fixed or current, etc. This is also done by the asset manager.

3. Recording of Asset Details: The next step is to record the details of each asset, such as its purchase date, cost, estimated useful life, etc. This is usually done by the finance or accounting department.

4. Updating the Asset Register: The asset register is then updated with the details of the new assets. This is usually done by the finance or accounting department.

5. Verification of Asset Register: The asset register is then verified to ensure that all the details are correct and up-to-date. This is usually done by the internal audit department.

6. Approval of Asset Register: The updated asset register is then approved by the senior management of the company.

The person(s) responsible for updating the asset register in a company are usually the asset manager, the finance or accounting department, the internal audit department, and the senior management. The exact roles and responsibilities may vary depending on the size and structure of the company.

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