Case Study: Essex Fire Authority improves fixed asset compliance and reporting with FMIS Fixed Assets

Essex Fire Authority use FMIS Fixed Assets to ensure compliance with IFRS, Component Accounting and additional standards

Essex Fire Authority, a UK local government emergency service, required a comprehensive fixed asset management solution to ensure compliance with standards like IFRS and Component Accounting for its complex and extensive asset register. The authority approached vendor FMIS to address the challenge of managing highly specialized equipment and buildings at a detailed component level.

FMIS implemented its FMIS Fixed Assets software, which provided the necessary component accounting functionality to group and manage linked assets. The solution automated the calculation of the Minimum Revenue Provision (MRP), saving significant time and improving the accuracy of financial forecasting. Furthermore, FMIS streamlined the previously time-consuming processes for revaluation and impairment and provided flexible, easy-to-use reporting tools for both finance and non-finance users.

Essex Fire Authority

Sandra Ruben

Finance Manager