Match each control with the risk it is intended to mitigate.

Risks:

1. Acquisitions not being conducted in adherence with policy

2. Fixed asset being expensed instead of being capitalized

3. Fraudulent bidding Fraudulent bidding or approval of non-budgeted items

4. Improper use of the asset

5. Inability to properly track the asset

Controls:

a) Non-collusion affidavits

b) Periodically review physical assets

c) Have management review accounting transactions

d) Perform fixed asset reconciliations

e) Enter assets into the main fixed asset table

f) Tag fixed assets

g) Have management review acquisition agreements