Control Intelligence

Depreciation & Amortization

Useful life assignment, depreciation method, and monthly depreciation run.

Sub-Process Score
92/ 100
Strong
10/10 responses received
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Control Objectives (1)

FA-DP-01
COSO P10ICFR.FA.DP.01IIA IV.9.2
Depreciation is calculated consistently using approved useful lives and methods.
Risk: Depreciation misstatement due to incorrect asset lives.
Assessment Questions (3)
  • 01Useful life policy is documented and approved.Document
  • 02Depreciation run reconciles to the GL monthly.
  • 03Changes to useful lives or methods are approved by the CFO.