Compliance Monitoring
Asset Register Master Data Integrity
Completeness and accuracy of the fixed-asset register supporting GRAP PPE disclosure.
The asset register is the evidence base for PPE in the financial statements
GRAP 17 requires property, plant and equipment to be recognised, measured and disclosed reliably, and that disclosure is only as good as the underlying fixed-asset register. An incomplete or inaccurate register is one of the most common causes of qualified audit opinions in the public sector. AuditPro Core tests the completeness and accuracy of the asset register so that the data supporting PPE disclosure is reconciled, verifiable and ready for the AGSA rather than reconstructed at year-end.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Assets on register
248 000
Unbarcoded
9 200
3.7%
Not verified this year
31 400
Carrying value at risk
R 1.8 bn
Asset records by data-quality flag
Data-quality exceptions
| Issue | Assets | Carrying value | GRAP risk |
|---|---|---|---|
| No location code | 12400 | R 640 m | Existence |
| Nil useful life | 6100 | R 480 m | Valuation |
| No acquisition date | 9200 | R 710 m | Completeness |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
Completeness and existence
The register must contain every asset the entity controls and only assets that genuinely exist. Gaps fail completeness, while ghost assets that have been disposed of or were never acquired fail existence.
Accuracy of measurement attributes
Cost, useful life, depreciation method and accumulated depreciation drive the carrying value disclosed. An error in any of these flows straight into the statement of financial position.
Reconciliation to the ledger
The asset register must agree to the PPE control account in the general ledger. A difference between the two means one of them is wrong and the disclosure cannot be relied upon.
Physical verification linkage
Register integrity is ultimately proven by physical verification, so each asset record should link to its verification status, location and barcode to support the existence assertion.
How AuditPro Core Bridges the Gap
- Reconciliation: the asset register is reconciled to the PPE general-ledger control account.
- Completeness testing: missing, duplicated and ghost asset records are surfaced as exceptions.
- Attribute validation: cost, useful life and depreciation fields are tested for plausibility and consistency.
- Audit-ready export: the register, exceptions and reconciliation export to support GRAP 17 disclosure and the audit file.
Key Takeaways
- PPE disclosure is only as reliable as the underlying asset register.
- Test both completeness and existence to catch gaps and ghost assets.
- Reconcile the register to the ledger control account; any difference is an error.
- Link each asset to its physical verification status to support existence.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.