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Office of FINANCIAL SERVICES

Stocktaking responsibilities of financial units

A list of assets held within a financial unit is provided to each financial unit at least four times per year or on a more frequent basis if requested.

It is the responsibility of the Head of the financial unit to:

  • Ensure and certify that the assets on the list supplied by the asset management unit are accounted for
  • Ensure that missing assets are noted and action is taken to locate them
  • Advise the accounting office of any assets that are obsolete, unused or missing and need to be written out of the record
  • Detail the circumstances relating to any assets declared missing (for example, steps taken to locate such assets)
  • Ensure the correctness of details of entries listed
  • Advise the Asset management section of any asset which is not included in the list of assets
  • Sign a Stocktaking Certificate (Word) when the stocktake is complete

Submit the certificate to the Asset management section by no later than 31 December each year.

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