Fixed Assets and Property Audit Work Program

Asset-related activities are sometimes considered an area of low-risk exposure because major acquisitions of property tend to happen infrequently. However, decisions surrounding fixed assets can affect the profitability and fiscal strength of the organization, and fixed assets can be a source of earnings manipulation if they are mismanaged. One primary goal of an audit of property and fixed assets is to determine that they are correctly capitalized and depreciated.

In this work program sample, we provide general steps organizations can take when conducting a property and fixed assets audit.