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Physical Security & Asset Protection Audit Checklist

Access control, CCTV/surveillance coverage, asset tagging and reconciliation, and insurance adequacy — the physical-world counterpart to IT access controls.

Free · CORAA original — SA-aligned
Updated 28 Jul 2026
Scope
Physical access, CCTV, asset tagging/reconciliation, insurance
Key test
Physical asset count reconciled to the fixed asset register
Common gap
Insurance cover based on original cost, not current replacement value
Format
Microsoft Word (.docx)
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Your firm — letterhead
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Engagement details
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What’s inside

An excerpt from the template.

PHYSICAL SECURITY & ASSET PROTECTION AUDIT CHECKLIST

Entity: ___ · Period: ___

Scope: physical access control to premises and sensitive areas, surveillance coverage, asset tagging and periodic physical-to-book reconciliation, and adequacy of insurance cover for physical assets — the physical-world counterpart to the logical access controls tested under ITGC.

Risk & Control Matrix

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About this template

What you’re downloading, and when to use it.

This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.

Everything is generated in your browser and on a stateless API endpoint — no account, nothing stored on our servers. We’ll ask for a work email once before your first download so we can send you the file and the occasional relevant update; after that, downloads on this device are instant. Edit freely in Word, Google Docs or Pages before sending to your client.

Common questions

FAQs.

How is this different from the fixed assets internal audit checklist?
The fixed assets checklist tests the broader financial and process controls around fixed asset acquisition, capitalisation, depreciation and disposal. This checklist focuses specifically on the physical protection layer — whether assets are tagged, physically secured, monitored, and reconciled to the register through actual physical verification — a narrower but complementary lens.
Why does CCTV footage retention period matter as a specific test point?
Many entities install CCTV but retain footage for a short period (sometimes as little as a week) that is shorter than the time it typically takes for a loss or incident to be discovered and investigated — by the time someone notices missing inventory or a security breach, the relevant footage has often already been overwritten.
What does "insurance adequacy" actually test, beyond confirming a policy exists?
It tests whether the sum insured reflects current replacement cost, not the original purchase price recorded in the books — assets purchased years ago at a lower cost, or whose replacement cost has risen due to inflation or currency movement, are frequently underinsured relative to what it would actually cost to replace them today.
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