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Test of controls in procurement of inventories and management function?

Forums › ACCA Forums › ACCA AA Audit and Assurance Forums › Test of controls in procurement of inventories and management function?

  • This topic has 1 reply, 2 voices, and was last updated 12 years ago by vijnas.
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  • November 12, 2012 at 4:19 pm #55230
    penelope0909
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Im getting a bit stucked here.

    What could be the test of controls to test….

    – POs generated through a centralised purchasing dept?
    – automatic requisition of inventories when a certain level is reached?

    Appreciated for any help! Thanks!!

    November 17, 2012 at 8:24 pm #107137
    vijnas
    Member
    • Topics: 2
    • Replies: 7
    • ☆

    My answer is:

    PO’s generated through a centralised purchasing dept.

    – confirm that they have been authorised by the appropriate supervisor /manager who actually made the request, to ascertain that it wasn’t a made up order.
    -verify that the PO has been authorised by the Purchasing manager, to ascertain that the order has been authorised for purchase.

    -Inventories
    Test that the Requisition has been approved by the inventory manager, to confirm that the levels were infact at reorder quantity and the inventory dept is requesting more supplies.

    —
    I hope it helps

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