This tool features questions to consider for performing a control self-assessment of an organization’s accounts payable operations.
Sample questions include: Have any new systems been implemented or existing systems been modified? If so, do these changes result in process changes that significantly affect the controls within this area? Based on your assessment, would you conclude that your control environment with respect to this process is primarily system-based or manual in nature? What metrics do you review or procedures do you perform to assess the adequacy of the controls relative to this process? What systems are used for purchasing, receiving and processing payables?