Club Audit Program - Excel by 0ct7rS8

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									This is the AuditNet Standard Risk Control Audit Matix which incorporates formats
used by many audit organizations in their documentation working papers. There are
format templates for risk control, audit procedures, questionnaires and checklists.
There is a blank workpaper and a report summary that can in used by audit
organizations. AuditNet has prepared a monograph for guidance on preparing and
developing audit work programs, checklists, questionnaires and matrices. The
monograph is available to AuditNet subscribers. For more information go to
www.auditnet.org
Library Name
Objectives                                                                                               Risks
Objective Type   Objective Category   Objective Title   Objective Description   Objective Library Type   Risk Ref
Optional         Optional             Unique            Mandatory               Optional                 Unique
Risks                                          Controls                                                               Areas
        Risk Description   Risk Library Type   Control Ref   Control Description   Control Library Type   Area ref    Area desc
        Mandatory          Optional            Unique        Mandatory             Optional               Mandatory   Mandatory
Test
Test Ref    Test Title   Test Description   Test Type
Mandatory   Mandatory    Mandatory          Optional
Library Name
                  Areas                                 Test                            Risks      Controls
Area ref       Area desc      Test Ref    Test Title   Test Description   Test Type   Risk Ref   Control Ref
Mandatory      Mandatory   Mandatory     Mandatory     Mandatory          Optional    Optional   Optional
Audit Program Area: Club Procurement
    No.     Risk Issues / What Can Go               Existing Control               Control Type
                      Wrong                                                          (P/D/C)
5.1       Procurement

Procurement Planning
A1.      Excessive      purchases    (i.e. Detailed budgets prepared annually to
         purchase more than required) monitor expenses.
         resulting in the following:

                   Restriction of working
           capital.
                      Impairment       of
           Company’s        cashflow  and
           financial position.
                   Higher stock holding Informal procurement planning by the
           cost.                           Storekeeper.

                                          Yearly budgets are prepared and
                                          approved by the GC.
                                          HOD and Finance Manager monitors
                                          the expenses against the yearly
                                          budget on a monthly basis.

A2.        Insufficient goods procured to Re-order levels for Beverage Store
           service members’ needs.        and General Store items are
                                          The Inventory System        (Check
                                          System) prompts re-ordering when
                                          the level is reached.


5.1        Procurement

Pre-Qualification and Appointment of Vendors, Vendor Performance Evaluation
A3.        Purchases are made from Sourcing of supplies are mainly from
           inefficient vendors resulting in the Supplier List, Yellow Pages,
           the following:                   newspaper,    or     based    on
                                            recommendation     from    other
                    Poor / inconsistent suppliers.
            quality products and services
            provided     by   vendors     /
            contractors.
                                              newspaper,    or      based      on
                                              recommendation      from      other
                                              suppliers.



                  Goods and services
           procured do not meet the
           Club’s            requirements.
           Consequently, this may affect
           the    quality    of    services
           provided to members.
                  Delays in delivery of
           goods / services.

Sourcing For Competitive Prices
A4.       Purchase goods and services Club’s policy require at least 3
          at a less competitive price. quotations be obtained.
Purchase Processing to Receiving
A5.       Duplicate purchases.         Check System generated sequential
                                       numbering of POs.


5.1       Procurement

Purchase Processing to Receiving (Cont’d)
A6.      Unauthorized purchases made. Approval of PR and PO by the HOD
                                       and GM.

                                              All POs below RM10,000 are
                                              approved by GM. PRs raised by GM
                                              are approved by the Club President.

A7.      Pilferages of Club’s resources Proper segregation of duties exists
         (i.e. goods procured and paid between personnel issuing PO
Purchase Processing to Receiving (Cont’d)
A8.      Goods received and services Matching of POs against suppliers’
         rendered not in accordance DOs prior to acknowledgement of
         with orders made.              receipt is required by the Club policy
                                        and procedures.
A9.      Defective goods received.      Conduct full checking on all goods
                                        received. Suppliers’ DO / Invoice is


5.1       Procurement (Cont’d)

Purchase Processing to Receiving (Cont’d)
A10.     Delays in delivery of goods / POs that have yet to be fulfilled (or
         services.                     still outstanding) are followed up
                                       informally    by    the   respective
                                       requesting department / Purchasing
                                       and Administrative Department.

Payment Processing
A11.     Payment        made            for (a) Matching of Suppliers’ Invoices
         unauthorized purchases.            to corresponding POs.
A11.


          Payment made for goods and (b)     Accounts Clerk checks to
          services  not  delivered / ensure there is acknowledgement of
          rendered.                  receipt on the supplier’s DO.

                                       (c) Verification of Supplier’s Invoice
                                       to ensure that the quantity ordered
                                       and selling prices tally with the PO.


Payment Processing (Cont’d)
A12.     Payment for defective goods / Goods delivered       and services
         goods returned.               rendered were properly inspected
                                       (a) Pre-numbered GRN is raised by
                                       the Storekeeper and approved by the
                                       Store Supervisor when goods are
                                       returned to supplier.

                                       (b)    GRN is required to be
                                       acknowledged by the suppliers when
                                       goods are returned.

A13.      Unauthorized payments.      PVs are approved by Finance               Preventive
                                      Manager / GM prior to signing of
A14.      Double payment for the same Original suppliers’ invoices are          Detective
          invoice.                    stamped ‘Paid’ upon payment made.
Control Type (Manual vs.   Design Adequacy   Observations
      Automated)
Manual   Y   No further comments.

Manual   N   Invoices / receipts for
             petty cash purchases are
Recommendations   Flowchart Ref
(a)




(a)
None.                               P4

Management should also include in   P4
the policies and procedures a
                              Client Name
                      Internal Control Framework

          Date Completed:
          Completed By:
          Reviewed By:

          Question                                                  Yes No* Comments /Description




              To the best of my knowledge, the answers and comments noted above are accu



          Name and Title of Person Completing Form (please print)                            Name and Title of Department Dire


* For a “No” answer, cross-reference to either a compensating control or to audit work which has been performed
or is to be performed.                            Questionnaire
                   Signature of Person Completing Form                                                Signature of Department


                            7/27/2012
                          Date Form Completed                                                     Date of Department Directo




* For a “No” answer, cross-reference to either a compensating control or to audit work which has been performed
or is to be performed.                            Questionnaire
                           Employee Responsible for Task




s noted above are accurate and reflect the current



Name and Title of Department Director (please print)


            * For a “No” answer, cross-reference to either a compensating control or to audit work which has been performed
            or is to be performed.                            Questionnaire
   Signature of Department Director



Date of Department Director's Signature




      * For a “No” answer, cross-reference to either a compensating control or to audit work which has been performed
      or is to be performed.                            Questionnaire
Finding Ref #   Control Testing   Finding
Management Response & Treatment

								
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