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Auditee: |
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Serial |
Audit Procedure |
Done |
Comments |
W/P Ref. |
Recommendation |
Objective 1- General
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1 |
Obtain the policies and procedures for purchasing |
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2 |
Obtain a copy of organization’s current signature authority matrix. Ensure that the matrix is up-to-date for authorized personnel, title/position vs. authority, dollar/volume limits, and override procedures (and related down-stream controls; subsequent reporting or escalation to higher-limit personnel) |
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3 |
Obtain the signature authorization list. |
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4 |
Check if the list of approved suppliers is maintained regularly |
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5 |
Determine if the function of authorization, ordering and receiving is adequately segregated |
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6 |
Verify the implementation of the computer system |
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7 |
Verify the implementation of a current vendor performance rating system |
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8 |
Determine whether there is a policy with respect to acceptance of gifts from supplier. |
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9 |
Check if the purchasing agents or buyers are periodically rotated among purchasing categories to ensure independence |
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Objective 2- Ordering
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10 |
Ensure whether a requisitions logbook is used to log all requisitions serially. |
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11 |
Scrutinize requisitions file for any duplicate or missing requisitions. |
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12 |
Check the completeness of the requisition. All fields should be completed. |
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13 |
For each purchase determine whether a requisition is prepared by the requester and approved by the Dept. Manager or committee. |
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14 |
Test the efficiency of the processing process i.e. from the time the requisition is received until the time the order is processed i.e. compare the dates of the selected purchase orders with those of the purchase requisitions. |
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19 |
Ensure that all imported purchases are insured. |
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20 |
Select purchases orders and check the authorization to ensure it’s approved by appropriate level of management |
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21 |
Investigate long outstanding requisition orders. |
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CAclubindia
