Asset Audit Compliance Checklist

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Audit Information

Organisation

Site / Location

Audit Date

Auditor Name

Audit Period

Total Assets in Scope

Verify each audit item. Mark Compliant (C), Non-Compliant (NC), or N/A. Document findings and corrective actions required in the Notes column.

#	Audit Item	C	NC	N/A
Register Accuracy
1	Asset register is complete and up to date	○	○	○
2	All assets have unique identification numbers	○	○	○
3	Asset descriptions are accurate and consistent	○	○	○
4	Serial numbers match physical assets	○	○	○
5	Location data matches actual asset positions	○	○	○
Physical Verification
6	Physical count reconciles with register	○	○	○
7	Asset tags/labels are affixed and readable	○	○	○
8	No unregistered assets found on site	○	○	○
9	Disposed assets removed from active register	○	○	○
10	Condition ratings reflect actual condition	○	○	○
Documentation
11	Purchase documentation on file for all assets	○	○	○
12	Warranty records current and accessible	○	○	○
13	Maintenance history complete and accurate	○	○	○
14	Transfer/movement records documented	○	○	○
15	Insurance schedules match asset register	○	○	○
Depreciation
16	Depreciation method applied correctly	○	○	○
17	Useful life estimates are reasonable	○	○	○
18	Residual values reviewed and current	○	○	○
19	Impairment assessments conducted where required	○	○	○
Compliance
20	Capitalisation threshold applied consistently	○	○	○
21	Regulatory registrations current (vehicles, plant)	○	○	○
22	Compliance certificates up to date (electrical, lifting)	○	○	○
23	Asset management policy reviewed within 12 months	○	○	○
24	Disposal procedures followed for all removed assets	○	○	○
25	Audit trail maintained for all register changes	○	○	○

Audit Item

N/A

Findings / Actions

Asset register is complete and up to date

○

All assets have unique identification numbers

○

Asset descriptions are accurate and consistent

○

Serial numbers match physical assets

○

Location data matches actual asset positions

○

Physical Verification

Physical count reconciles with register

○

Asset tags/labels are affixed and readable

○

No unregistered assets found on site

○

Disposed assets removed from active register

○

Condition ratings reflect actual condition

○

Documentation

Purchase documentation on file for all assets

○

Warranty records current and accessible

○

Maintenance history complete and accurate

○

Transfer/movement records documented

○

Insurance schedules match asset register

○

Depreciation

Depreciation method applied correctly

○

Useful life estimates are reasonable

○

Residual values reviewed and current

○

Impairment assessments conducted where required

○

Compliance

Capitalisation threshold applied consistently

○

Regulatory registrations current (vehicles, plant)

○

Compliance certificates up to date (electrical, lifting)

○

Asset management policy reviewed within 12 months

○

Disposal procedures followed for all removed assets

○

Audit trail maintained for all register changes

○

Audit Summary

Total Items Assessed: _____ Compliant: _____ Non-Compliant: _____ N/A: _____ Compliance Rate: _____%

Auditor

Name

Signature

Date

Management Acknowledgement

Name

Signature

Date

This document is a template provided by MapTrack for operational use. Organisations should adapt audit criteria to align with their accounting standards and asset management framework. Visit maptrack.com for asset tracking solutions.