NCA_cycle - Segregation of duties authorisation custody and...

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Accounting Non current assets (NCA) • NCA are properly Security arrangements over NCA are sufficient • NCA are maintained properly • Non-current asset acquisitions are authorised • NCA disposals are authorised and proceeds of disposals are accounted for Depreciation rates are reasonable • All income is collected from income-yielding NCA For a sample of NCA purchases during the year in the general ledger: • Check authorisation • Check asset has been recorded in the non-current asset register • Check correct depreciation rates applied For a sample of NCA disposals during the year: • Check disposal authorised by senior official • Check invoice issued for any proceeds • Agree recording of proceeds in the cash books • Check asset has been removed from NCA register • Check calculations of profit or loss on disposal • Segregation of duties ; authorisation, custody and recording Maintenance of accounting records
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