1.2 On Asset Management a) Assets are counted annually and exceptions are not followed up timeously. b) Documentation relating to assets were not readily available for examination. c) The control activities surrounding the control of assets are in place but they are not applied appropriately. d) Assets captured on LOGIS resulted in information not being available on a timely basis to allow effective monitoring of events, activities and transactions to allow prompt reaction. e) Assets recorded on the financial systems were not reconciled to the fixed asset register. f) Data recorded by the information and financial systems was not compared with physical assets/stock and discrepancies exist. g) Management does have a strategy in place to ensure that ongoing monitoring is effective but this is not being applied effectively with regards to asset management.