Table
of Contents:
The
audit program contains
32 tests designed
to evaluate the effectiveness
of the key configuration settings, monitoring techniques and access
restriction mechanisms to sensitive transactions in the in SAP
R/3. The
audit program covers the
following sub-processes in asset accounting:
Fixed
Asset Master Data
Audit plan and testing
guidance to ensure that changes to the fixed asset master file
are valid, accurate and processed timely:
- Appropriateness of access to maintain assets and asset
groups
- Assessment of monitoring techniques to ensure
the validity
of changes to the master records
- Effectiveness of the available system edits that help avoid
errors in customer master data, including required, optional,
display, or suppressed entry fields and copy controls
- Assessment of monitoring techniques for incomplete assets
Asset Acquisition
Controls and testing procedures to ensure that asset
acquisitions are valid and accurately recorded:
- Appropriateness of access to acquire assets from in-house
production and from purchase with vendor or from affiliated
company
- Appropriateness of access to post acquisitions
of assets:
- In Asset Accounting integrated with Accounts Payable
- In Asset Accounting without integration with Accounts
Payable:
a) When the offsetting entry is posted
automatically to a clearing account
b) When invoices are posted as open items to a
clearing account
- Assessment of monitoring techniques to investigate asset
activity that have not been posted
- Reconciliation of asset balances with postings to asset
general ledger accounts
Periodic
Processing
Audit plan and testing procedures to ensure that
depreciation charges are valid, accurately calculated and recorded in
the appropriate period:
- Effectiveness of the available system edits for active
depreciation areas in the chart of depreciation
- Configuration of the calculation rules used to arrive at
the depreciation amounts for the asset
- Configuration of the balance sheet, depreciation,
and special reserves accounts to which management posts the
transactions related to acquisition, depreciation and such
- Assessment of the settings that define how the depreciation
areas post depreciation and acquisition and production costs
to the GL
- Procedures to review manual depreciation entries
- Appropriateness of access to post depreciation
- Appropriateness of access to adjust planned
depreciation and post asset write-ups
- Appropriateness of access to create unplanned depreciation
entries
- Appropriateness of access to perform the fiscal year change
and year-end closing
- Reconciliation procedures between the general ledger and
asset accounting
Disposing
of Fixed Assets (Asset Retirement)
Audit plan and testing
guidance to ensure that recorded fixed asset disposals are
valid (represent actual disposals):
- Appropriateness of access to retire assets with revenue
from sale (with or without customer)
- Appropriateness of access to retire assets without revenue
by scrapping
Everything has been conveniently pre-documented
with fill-in fields
for company-specific information (entity name, date, data extracted
from the system, etc.) which will
allow you to proceed with your assessment immediately.
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