Handbook AS-701, Material Management, Section 541.28, Internal Reviews, contains procedures for conducting a semiannual review of capital records. The procedures require either the installation head or designated material accountability officer (MAO) to conduct a semiannual internal review and an evaluation of the status of property records and files. Installation Heads: If you do not have a designated MAO, refer to Handbook AS-701, Part 541 and Exhibit 541.21, for the assignment procedure and a sample letter of delegation, respectively.
If you are an installation head or a designated MAO, you must complete the review and evaluation process by following these steps:
1. Meet with the designated material accountability assistant (MAA) (if you have one) and discuss the material accountability background of the installation. If you do not have a designated MAA, refer to Handbook AS-701, Section 541.3 and Exhibit 541.32, for the assignment procedure and a sample letter of delegation, respectively.
2. Review the local standard operating procedures.
3. Randomly select and inventory 10 percent of capital items and 10 percent of sensitive items.
4. Review files and records to verify that they are being maintained in accordance with procedures outlined in Handbook AS-701, Parts 551, 552, 553, and 556.
5. Review the last six property changes for the month to ensure they have been properly verified.
— National Supply Management Programs,
Supply Management, 2-14-08
