Fixed asset misappropriation and misuse

Equipment, vehicles, or other fixed assets are taken, used for personal purposes, or disposed of to employees or associates for little or no proceeds.

Planned. Analysis for this scheme is in development.

Starter pack: Not part of a starter pack

Red flags

In the data

• Disposals with no proceeds or proceeds far below book value
• Disposals to employees or their addresses
• Recently acquired assets written off as lost or scrapped

Behavioral

• Employee uses organization equipment for a side business

Internal controls

• No periodic physical verification of the asset register
• Disposals not approved or not bid out