This sample audit program reviews the other assets account maintenance process and related accounting controls.

Other assets should be reviewed to determine if the processes of approval, maintaining subsidiary ledgers, and reconciliation to general ledger accounts are adequately supervised and controlled. Objectives of this sample audit program include: developing an understanding of the other assets accounts; ensuring that prepayments and deferred costs are properly calculated and recorded; and ensuring that other assets are not overstated and are recorded in accordance with company policies and generally accepted accounting principles (GAAP).