How often must a physical inventory of property be conducted?

A physical inventory of property must be conducted annually to ensure accurate accountability and management of government property. This requirement is vital for maintaining transparency, verifying the existence and condition of property, and ensuring compliance with regulations. An annual inventory allows organizations to identify any discrepancies between recorded and actual property, which is essential for both financial reporting and operational readiness. Conducting inventories at this frequency aligns with established policies that emphasize regular assessments to uphold accountability standards within military units.