4.5 Physical count and inventory reconciliation
Regular physical count and inventory reconciliation is a vital control measure in an emergency to ensure basic accountability. Some guidelines are:
- The supervisor should conduct a physical count of all non-expendable property at least once a month. This count should be reconciled against the Central Property Register.
- Maintain a Physical Verification and Reconciliation Record. See sample in Annex 18.18.
- Verify any discrepancies by examining the purchase request, purchase order, waybill, good received note or other documentation.
- Regularly update the Central Property Register in cases of change in location, condition or transfer.
- All adjustments to the Central Property Register should have authorisation by the Team Leader/ACD/Country Director.
- Conduct formal verification at least twice a year by an independent team of two, preferably from Administration and Finance.
- Each unit or project should maintain its own FFE list, a copy of which should be submitted to administration every quarter for verification and cross-reference.