Asset Inventory Audit

Audit report: asset count, mismatches, recoveries, write-offs, license savings, action items. Updated register. Findings distributed to leadership.

Before you start

Asset register (laptops, monitors, phones, software licenses)
Asset tags on physical equipment
Documented assignment-to-employee policy
Asset register snapshot
Employee roster with current employment status
Recent purchases and disposals

The steps

Pull the asset register and employee roster — Cross-reference: each asset's assigned employee against the active roster. Flag mismatches: assets assigned to ex-employees, assets unassigned, assets without an owner.
Reconcile purchases and disposals — Compare last quarter's purchases against assets in the register. Confirm each purchase made it into the register. Same for disposals — anything written off should be removed. Detect missing disposals (still in register but not in use).
Run a physical or remote spot-check — Sample 10-15% of assets for verification. For onsite assets, physical count. For remote employees, request a confirmation photo or video. Track confirmation rate per remote employee.
Investigate mismatches — For each flagged mismatch: contact the assigned (or last-known) employee, IT lead, or office manager. Common causes: ex-employee didn't return, asset was reassigned without updating register, asset was lost or stolen.
Recover or write-off assets — For ex-employee assets: trigger return process (shipping label or pickup). For lost/stolen: file police report if applicable, write-off in accounting. For reassigned: update the register.
Update software license counts — Match software license counts to active employees. Reclaim unused licenses (terminated employees, reassignments). Cancel licenses no longer needed. License waste is a frequent budget leak.
Compile audit report and surface findings — Report: total assets, mismatches found, recovered, written-off, license savings identified, recommendations. Distribute to: CFO, IT lead, ops lead, security lead. Audit cadence: quarterly minimum.

If it goes wrong

Ex-employee assets pile up over multiple quarters

Block deactivation of HRIS record until asset return is confirmed. Make IT a hard step in offboarding, not a soft request.

Remote employees don't respond to spot-check requests

Make spot-check part of HR's annual confirmation cycle. Tie to acknowledgment of asset policy. Non-response can escalate to manager.

Audit reveals missing assets that were never reported

Tighten reporting expectation: any missing asset must be reported within 7 days of discovery. Train managers and employees on this. Quarterly audit shouldn't be the discovery mechanism.

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