This process flow focuses on vendor management, purchase requisition/PO approval covering non-inventory approval and inventory purchases, invoice processing, cash disbursement, and expense reports. It also includes related risks and controls. In this example, new vendors are added to the vendor master file with an approved purchase requisition. The identified vendor on an approved purchase requisition is reviewed by purchasing.
This document can be used as a general guide to understand and review the process. Organizations should continuously update and monitor the processes included in this document to ensure that it reflects business operations.