Assets & GRAP
GRAP 17 Component Asset Review
Componentisation depth of property, plant and equipment against GRAP 17 expectations.
Why component-level asset accounting matters
GRAP 17 requires that significant components of property, plant and equipment with different useful lives be depreciated separately, so a road, a building or a treatment plant is rarely a single asset. Inadequate componentisation distorts depreciation, asset values and renewal planning, and is a recurring AGSA finding on municipal asset registers. AuditPro Core reviews the componentisation depth of the asset register against GRAP 17 expectations so depreciation and carrying values are stated correctly.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Assets componentised
68%
▲ 9% vs prior year
Infrastructure not split
R1.8bn
Classes reviewed
7
of 9
Avg components per asset
3.4
Componentisation rate by asset class
Un-componentised carrying value
| Asset class | Carrying value (R m) | Line items |
|---|---|---|
| Water networks | 642 | 38 |
| Buildings | 511 | 91 |
| Electricity | 418 | 27 |
| Roads | 254 | 19 |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
Components with different lives
Where parts of an asset wear out at different rates, GRAP 17 requires each significant part to be accounted for separately. A treatment plant's pumps, civil works and electronics cannot share one useful life.
Componentisation drives depreciation
Treating a complex asset as a single line over-depreciates long-lived elements and under-depreciates short-lived ones. The result is a misstated carrying value and an unreliable depreciation charge.
Register depth and renewal planning
A componentised register shows which parts are due for replacement and when, underpinning credible infrastructure renewal budgets. Shallow registers hide impending capital needs.
How AuditPro Core Bridges the Gap
- Componentisation review: asset records are tested for component depth against GRAP 17 expectations.
- Depreciation check: single-line complex assets are flagged for likely misstated depreciation.
- Register-gap flagging: under-componentised high-value assets are raised for refinement.
- Renewal linkage: component lives feed credible asset-renewal and budget planning.
Key Takeaways
- GRAP 17 requires significant components to be depreciated separately.
- Single-line complex assets misstate depreciation and carrying value.
- Componentisation underpins credible infrastructure renewal budgets.
- Shallow asset registers are a recurring AGSA finding.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.