This tool contains questions that can be used by auditors to evaluate an organization’s capital expenditures and fixed asset process.
Questions to consider include: Do you get a plant engineer involved in each capital project? If not, why? Do you have a purchasing department involved in the purchase of capital assets? What is your threshold for requiring competitive bidding or bid waivers for capital purchases? Who is the project manager for capital projects? Who is responsible for identifying the completion date of a capital project? Who is responsible for identifying asset disposals that result from a capital project? What about disposals that result from ending usage?