Question 2: (20 Marks) In order to improve the current state of Asset Management, the Country Office team has appointed an external audit firm to cross-verify Asset registered in the Asset Register against what is physically available. After two months of the extensive review process, the audit firm submitted the report to the management with their top finding that approximately USD 1.35 million of the Assets are not reconciled, i.e. recorded in the asset register but not available physically. However, as the Head of the Supply Chain, you are not convinced on the numbers but there is a trail available from the previous audits on the weekly management of the Asset;

1. Please explain how you would handle the report on the missing asset of USD 1.35 million and what you will do to minimize the loss and its impact on the Country Office's creditability against the Donor and other key stakeholders.

2. What system, controls and policies, and procedures would you put in place to ensure the proper tracking of Assets in the Country office that has eight Field Offices? Please also explain the plan in terms of rolling out the new systems/controls/procedures in eight different Field Offices.

3. What sustainable mechanism you will put in place to ensure that such an issue will not occur again in the Asset Function?