A Visit from the Auditor (AKA The Night Before Our Audit)

2019-11-11T10:35:54-05:00Tags: , , , |

by: AssetWorks ‘Twas the night before our audit, when all through the schools, Not a teacher was stirring, no students breaking the rules. The laptops were organized on their little rack with care, In hopes that the auditor soon would be there. The office staff were nestled all snug in their beds, While visions [...]

3 Ways a Mobile Inventory Solution Helps After Audit Season

2019-09-11T15:53:32-04:00Tags: , , , , , , |

From completing your inventory in less time to updating asset data efficiently, the benefits of an automated inventory system during audit season are clear. But if you’re making any software investment, it's wise to look for a system that will help your department thrive year-round. If that system is a mobile inventory solution, don’t [...]

Preparing for an Audit | 3 Quick Tips for a Smooth Audit

2018-08-01T12:37:52-04:00Tags: , |

Fiscal year-end is approaching for many organizations, and you know what that means: the annual audit, too, is upon us. If the thought sends shivers down your spine, know that you aren’t alone. Preparing for an audit can be stressful (and time consuming), but it doesn’t have to be. As far as fixed assets [...]

Self-Assessments Give Property Managers a Heads Up Going into Audits

2018-02-08T15:00:23-05:00Tags: , |

In the midst of an audit, organizations fear phrases like invalid transactions, non-compliant valuations or incorrect classifications. They’re terms that highlight bad habits originating in the property management department. For companies leveraging effective self-assessments, there shouldn’t be too many off-putting surprises come audit time. Examining a property management system with the purpose of identifying [...]

Qualified Audit Opinions: Failure to Account for Capital Assets

2018-02-09T13:30:52-05:00Tags: , , |

Legislation, such as GASB 34, requires school districts and other public entities to accurately track and account for fixed assets. Without proper systems in place, this can certainly be a challenge. Quite honestly, even with an advanced system in place, it can still be difficult to keep up with the ever changing landscape of [...]