A Checklist for a Purchasing-Process Audit

Written by erik miley
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A Checklist for a Purchasing-Process Audit
Performing internal process and purchasing audits help maintain efficient and effective operations. (business image by Clark Duffy from Fotolia.com)

Performing an internal audit of your company's purchasing process is a key component of maintaining efficient and effective operations in any business. Audits are designed to verify that all aspects of how a business functions are working at optimal efficiency. Resources that may be audited include personnel, equipment, environment or processes.

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Is the purchasing process efficient? How can it be improved? Does the organisation control its purchasing processes in order to ensure that products comply with all requirements?

Corrective and Preventative Actions

How can problems be more effectively solved and/or prevented through better processes? Are the criteria for purchasing evaluations well defined and clearly stated? If so, are the results of such evaluations being acted on and properly recorded for future reference?

Supplier Reliability

Are current suppliers consistently providing products that comply with all requirements? Are shipments being received in a timely fashion? Are there other vendors who can provide the same quality at cheaper costs?

Risk Management

What are the risks involved in the procurement process? Has the company established an effective risk-mitigation procedure? How can we identify vulnerable aspects of all procurement systems, including corruption of the procurement cycle and supply chains?

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