This sample audit program contains questions to consider when reviewing an organization’s accounts payable and invoice processing function.
Sample questions include: Do the people who process invoices for payment receive all invoices directly from the mail opener, and is control over the invoices established immediately upon receipt? Are monitoring controls in place to track partial shipments against PO quantities for material/services? Are procedures in place for new vendors to become approved and added to the system? Is a log generated and reviewed by appropriate management to document changes to the vendor file?