| Fraud type: |
Theft of assets (or their unauthorised use) |
| Suggested controls: |
Maintan an asset register tand keep it up to date. Use inventories where possible, and assign assets to individual budget centres |
|
Ensure that assets are adequately defined on the asset register |
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Mark and identify your assets where possible |
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Ensure the physical security of your assets |
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Carry out spot checks on existence of assets on a regular basis; |
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Review and approve the details of proposed sales, e.g. item, reason for sale, expected price and date of sale and results prior to a sale and follow up results in terms of the price achieved and prompt banking of income. |
