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Tracking Assets Spot Audit Inventory Accounting The University of Texas at Austin.

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Presentation on theme: "Tracking Assets Spot Audit Inventory Accounting The University of Texas at Austin."— Presentation transcript:

1 Tracking Assets Spot Audit Inventory Accounting The University of Texas at Austin

2 What is a Spot Audit A risk assessment will be performed on an annual basis. Unit codes with the highest risk will be selected for an audit. Sample of inventory transactions are reviewed to verify their accuracy and compliance with procedures Conducted on a random basis

3 Importance of Compliance If the certification is not received in a timely manner or has compliance issues you may be selected for a spot audit

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