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Common Audit Recommendations—Equipment


Separation of Duties

Separate the duties so that the equipment inventory custodian does not perform or verify the physical inventory.

Documentation

• Tag equipment when received.
• Establish procedures for checking out equipment removed from University facilities.
• Complete the Equipment Inventory Form 1024 when equipment is surplused.

Reconciliation and Reviews

• Perform timely physical inventories.

References

Administrative Policy Statement 61.1 Equipment Inventory Management

Administrative Policy Statement 61.4 Tagging and Identification of Equipment

Administrative Policy Statement 61.5 Physical Inventories

Administrative Policy Statement 61.7 Surplus and Disposal of Equipment

 

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Internal Audit
iaudit@u.washington.edu
Last Modified: August 14, 2007