Our Procurement and Accounts Payable Audit Work Program outlines a structured approach to auditing the procurement and accounts payable functions within an organization. It is divided into multiple samples, each targeting specific areas of the audit process to ensure comprehensive coverage and detailed examination of all relevant procedures and controls. It serves as a guide for audit teams to assess compliance with internal policies, evaluate the effectiveness of implemented controls, and recommend improvements.

Sample 1 focuses on the selection and evaluation of vendors, detailing steps such as reviewing vendor selection policies, interviewing key personnel, and testing transactions to ensure adherence to the bidding process. Sample 2 addresses the expectations from the organizational and process analysis perspectives, involving tasks like project planning, coordination and reviewing best practices for procurement. Sample 3 concentrates on the fieldwork and reporting phases, including the preparation of audit reports and ensuring that procurement and accounts payable activities are authorized and valid. Each sample is meticulously designed to capture different facets of the audit process, providing a layered approach to understanding and improving procurement and accounts payable systems.

Audit steps include:

• Review the current vendor selection and evaluation policies and procedures.
• Compare and contrast reviewed divisional policies.
• Request system data for CAAT testing.
• Ensure that controls to mitigate system integrity risk are in place. Document the results.