Asset Management Audit Checklist
Prepared by: | [YOUR NAME] |
Date: | May 1, 2055 |
Company Name: | [YOUR COMPANY NAME] |
I. Asset Inventory and Classification
No. | Task | Status |
|---|
1 | Verify the existence of all physical and digital assets. | |
2 | Ensure all assets are correctly classified (e.g., fixed, intangible). | |
3 | Confirm that all assets are tagged or labeled appropriately. | |
4 | Review asset lifecycle documentation and depreciation schedules. | |
5 | Check for any discrepancies between physical assets and records. | |
II. Asset Acquisition and Procurement Process
No. | Task | Status |
|---|
1 | Review asset acquisition policies and procedures. | |
2 | Verify that all acquisitions follow the organization’s procurement process. | |
3 | Ensure that purchase orders, invoices, and contracts are properly documented. | |
4 | Assess vendor performance and compliance with contract terms. | |
5 | Evaluate approval workflows for asset purchases. | |
III. Asset Utilization and Maintenance
No. | Task | Status |
|---|
1 | Review asset usage records to ensure proper utilization. | |
2 | Check maintenance schedules and logs for critical assets. | |
3 | Ensure that preventive maintenance is performed regularly. | |
4 | Assess the efficiency of asset utilization for each department. | |
5 | Verify that assets are stored and handled correctly to prevent damage. | |
IV. Asset Disposal and Retirement
No. | Task | Status |
|---|
1 | Review procedures for asset disposal and retirement. | |
2 | Verify that decommissioned assets are properly documented and removed from inventory. | |
3 | Ensure data erasure for digital assets before disposal. | |
4 | Confirm that assets are disposed of according to environmental and regulatory standards. | |
5 | Assess financial impact and savings from asset retirement. | |
V. Compliance and Risk Management
No. | Task | Status |
|---|
1 | Ensure compliance with industry standards and legal requirements. | |
2 | Review internal asset management policies for compliance with external regulations. | |
3 | Identify risks associated with asset mismanagement or loss. | |
4 | Evaluate insurance coverage for high-value or critical assets. | |
5 | Assess the organization's cybersecurity measures for protecting digital assets. | |
VI. Reporting and Documentation
No. | Task | Status |
|---|
1 | Review reports on asset performance and financial impact. | |
2 | Ensure that all asset-related documentation is up to date. | |
3 | Check for any gaps in the reporting of asset management activities. | |
4 | Verify that stakeholders receive accurate asset management reports. | |
5 | Assess the efficiency of the asset management software/system used for tracking assets. | |
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