Control Intelligence

Asset Disposals & Impairment

Retirement, sale, impairment testing, and write-off controls.

Sub-Process Score
76/ 100
Adequate
7/9 responses received
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Control Objectives (1)

FA-DS-01
COSO P10COSO P12ICFR.FA.DS.01IIA IV.9.2
Asset disposals are authorized and gain/loss is properly recorded.
Risk: Unrecorded disposals overstate net assets.
Assessment Questions (3)
  • 01Disposal authorization form is required above a documented threshold.
  • 02Physical inventory of fixed assets is performed at least annually.
  • 03Impairment triggers are evaluated quarterly per ASC 360.