Procurement and Accounts Payable Audit Work Program
Subscriber Content
Review and Improve Your Organization’s Purchasing Process
This tool includes three sample work programs that provide key steps for reviewing organizations' procurement and accounts payable process.
Sample steps in these audit programs include understanding the difference between transactions involving direct and indirect materials, understanding the relationship and communication between the material managers and the individual divisional purchasing department, documenting results, reviewing current vendor bidding policies and procedures, interviewing individuals involved with the vendor bid process, and mapping the process of vendor bid processing and evaluating the current controls in place.