This is a sore subject with me.
I cant tell you if it's required or not (I would presume yes), but I know we have items on our list (that were fully depreciated a long, long time ago) that I seriously doubt we still have at any location.
We use our depreciation listing as an asset list. But due to consolidations/mergers/etc. there is a lot of stuff on there that I know isnt at the original location any more (if even still in use). I've recommended an inventory the last two years in a row (usually repeat audit recommendations get their attention).
_________________________
I don't need any more negativity in my life...be positive and helpful people or I will kick you in the shins!!!