Table of Contents:

This SAP 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 control framework covers the following components of the asset accounting process:

Fixed Asset Master Data
SAP audit program 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 asset master data, including required, optional, display, or suppressed entry fields and copy controls
• Assessment of monitoring techniques for incomplete assets

Asset Acquisition
Audit plan and testing procedures to ensure that asset acquisitions are valid and accurately recorded in SAP R/2:

• 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
SAP audit guidance 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)
SAP audit 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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