For the following problem write a flowchart from the following flowchart and then in your auditor's opinion,
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Question:
For the following problem write a flowchart from the following flowchart and then in your auditor's opinion, is this internal control effective
- Purchase Order Form
Purchasing personnel after receiving the Purchase Request, Purchasing agent will prepare Purchase Order in the ERP system.
- Items of COGS
- The supplier has existing pricing and shipping detail contract
Properly enter the request with correct quantities and price/unit info.
- Doesn’t have an existing supplier
Find a reputable supplier with the best price possible.
Properly enter the request with correct quantities and price/unit info.
- Items for Non-COGS
- Setup accounts with reputable suppliers, such as Office Max or Staples
- Properly fill out the PO
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