This KnowledgeLeader tool provides you with two different samples of expenditure cycle audit work programs, designed to help you review the adequacy of existing policies and procedures for your company’s expenditure cycle activities, evaluate the internal control environment and the effectiveness and efficiency of the processes, and identify opportunities for internal control and process improvements. It also includes an expenditure risks guide for additional direction.
Questions to consider during this audit include: Are cash disbursement transactions reliably processed and reported? Does the company work with suppliers to establish mutually agreeable practices? Is there a mechanism in place to promote ethical supplier relationships? Does the company develop, apply and monitor supplier performance ratings?