This sample accounts payable audit program reviews the accounts payable/invoice processing function at a company.
Sample questions to consider include: (1) Do the persons who process invoices for payment receive all invoices directly from the mail opener, and is control over the invoices established immediately upon receipt? (2) Does the processing of items for payment include: Check of terms, prices and quantities on invoices against purchase orders? Check of items and quantities on invoices against receiving reports obtained directly from the receiving department (including partial receipts)? Mathematical check of footings, extensions and discounts?