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Verification means 'Proving the truth' or 'Confirmation'. Verification is an auditing process in which auditor satisfy himself with the actual existence of assets and liabilities appearing in the Statement of Financial position.
Avows corporate asset verification involves lining up of all the assets specifying the places about where the assets are held and the ones responsible for the possession .it provides with :
To such a degree it aids to present a true and fair financial position of a firm,know the profitability level and future prospective of a firm.