ASTM E2131-16(2022) PDF

Scope: 1.1 This practice focuses on addressing and reporting losses of tangible property. 1.2 Loss occurrences are key aspects of risk management. Projecting the possibility or probability of losses, discovering, disclosing, reporting, managing, and minimizing losses to a reasonable extent is a critical economic factor in the success of the owning or holding entity. This practice also establishes acceptable levels of losses. 1.3 Losses are often discovered as a result of an occurrence, a physical inventory, property custodian or entity selfassessment, or external audit. An actual loss occurrence can be at any time during the property life cycle. 1.4 Assessing and determining financial liability for losses is not addressed in this practice; such assessments are generally subject to individual contracts or other arrangements. 1.5 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use. 1.6 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

ASTM E2131-16(2022) Referenced Document

ASTM E2132 Standard Practice for Inventory Verification: Electronic and Physical Inventory of Assets
ASTM E2135 Standard Terminology for Property and Asset Management
ASTM E2279 Standard Practice for Establishing the Guiding Principles of Property Asset Management
ASTM E2378 Standard Practice for the Recognition of Impaired or Retired Property Assets
ASTM E2608 Standard Practice for Equipment Control Matrix (ECM)
ASTM E3015 Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
ISO 31000 Risk management - Guidelines (includes Redline Version)

2022 ASTM E2131-16(2022) Standard Practice for Addressing and Reporting Losses of Tangible Property
2016 ASTM E2131-16 Standard Practice for Addressing and Reporting Losses of Tangible Property
2009 ASTM E2131-09 Standard Practice for Assessing Loss, Damage, or Destruction of Property
2001 ASTM E2131-01 Standard Practice for Assessing Loss, Damage, or Destruction of Property