Académique Documents
Professionnel Documents
Culture Documents
Auditing the
Purchasing
Process
McGraw-Hill/Irwin Copyright 2010 by the McGraw-Hill Companies, Inc. All rights reserved.
LO# 1
11-2
LO# 3
11-3
LO# 3
Purchase
Input order
program
11-4
LO# 3
Receiving Review
Goods report account
received, distribution
counted, and
Vendor
inspected Voucher
invoice
packet
Enter vendor,
Receiving
quantity, and To IT
report (RR) Input
PO #
Error From IT
Daily correction
receiving log 11-5
LO# 3
Open PO report
A/P expense
Accounts
Input Weekly Monthly distribution report
from A/P
payable Monthly A/P reporting
reports Voucher register
update
Daily Cash disbursements
A/P listing journal
Report Error
to A/P report Cash
Daily
disbursement General
report ledger
11-6
LO# 3
Cash
disbursement
Checks Checks
report
Input To Vendors
11-7
LO# 4
11-9
LO# 6
11-10
LO# 7
Industry-Related Factors
2.
1.
How volatile are
Is the supply of raw
raw material
materials adequate
prices
?
?
11-11
LO# 7
11-12
LO# 8
Planning
Planning and
and performing
performing tests
tests of
of controls
controls of
of
purchase
purchase transactions.
transactions.
Setting
Setting and
and documenting
documenting the
the control
control risk
risk for
for the
the
purchasing
purchasing process.
process.
11-13
LO# 8
11-15
LO# 8
11-17
LO# 8
11-18
Control Activities and Tests of LO# 9
11-19
LO# 9
11-20
LO# 8
11-22
LO# 10
11-23
LO# 10
11-24
LO# 10
11-25
LO# 11
11-26
LO# 12
& 13
11-27
LO# 12
11-29
LO# 12
11-30
LO# 12
11-31
LO# 12
& 13
11-32
LO# 12
& 13
11-33
LO# 12
Dependence
Dependence on on aa single
single
Short-
Short- and
and long-term
long-term vendor
vendor or
or aa small
small number
number
payables.
payables. of
of vendors.
vendors.
Long-term
Long-term purchase
purchase
contracts, Costs
Costs by
by reportable
reportable
contracts, including
including any
any
unusual segment
segment of
of the
the business.
business.
unusual purchase
purchase
commitments.
commitments.
11-34
LO# 14
11-35
LO# 15
11-36
End of Chapter 11