In audits, a variance is any mismatch between records and reality. For item-level asset registers, variances fall into a few types:
- Missing — recorded but not found.
- Unregistered — found but not recorded.
- Location variance — found, but not where recorded.
- Attribute variance — found, but details differ (serial, custodian, status).
Measuring variance
Example
Expected 500; found 488; unregistered 6; wrong location 20.
Missing = 500 − 488 = 12 → missing rate 2.4%.
Location accuracy = (488 − 20) ÷ 488 = 95.9%.
Report variances by count and by value: twelve missing mouse mats and twelve missing laptops are very different findings.
Why variances happen
Most variances are record-keeping problems rather than theft: moves that were never recorded, disposals that skipped the register, purchases that were never registered, or the same asset registered twice. Tracking which type of variance recurs, and where, points to the process that needs fixing.
In Asetavo
Each audit produces a variance report of found, missing and unregistered assets that you can drill into and resolve.