1) Navigate to Setup > Users/Roles > Manage Roles (Administrator role)
2) Click Edit on the Custom role
3) Under the Permissions tab > Lists subtab, add Subsidiaries and set Level to View
4) Click Save
You may also add the Currency permission (Permissions> Lists subtab > Currency = View) if adding the Subsidiary still does not work.
You can also navigate inside NetSuite to view the exact permission that needs to be added to run the Asset Register report.
- Using an Administrator role, navigate to Setup > Customization > Scripts. 
  ** Click View beside FAM - Asset Register Report (sc). 
  ** Go to Execution Log tab.
     --- Type – Error
     --- Title – ncFAR_AssetRegisterReportSL
Custom role should now be able to run the Asset Register report.
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