University Audit







RISKS and CONTROLS



Property and Assets


Examples of controls to reduce the risk of stolen or misused items:

  • Property items, especially computers and desirable equipment, are physically secured.


  • When an employee resigns or transfers, the unit makes sure system access is removed, property is on-hand, keys are turned in, and lock combinations and security codes are changed.


  • Management has approved all property taken off-campus.


  • A thorough search is made for all property during the annual inventory.


  • For auxiliary operations, items for sale are physically counted each year and compared to inventory records.


  • Disposal of any property purchased with any source of university funds, tagged for inventory or not, must follow UCF Regulation 7.302,   Surplus Property.




Click on the links below for examples of controls to mitigate risk:



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