Accounts Payable Audit Work Program.
Example Internal Audit Work Program / Risk and Control Matrix (RCM) Maintaining appropriate controls over an accounts payable process, such…
1 Jun 21•
My Audit Spot
Example Internal Audit Work Program / Risk and Control Matrix (RCM)
Maintaining appropriate controls over an accounts payable process, such as ensuring invoices are only paid when a valid three way match is completed and appropriate approval is received, is important to ensure there is no fraud, the business is meeting any local regulatory requirements and the business is making best use of its available cash flow.
We have developed a generic Internal Audit Work Program, or Risk and Control Matrix (RCM) aimed at helping audit teams ensure controls over the accounts payable process have been designed and implemented correctly, and are also operating effectively.
The testing work program is built within our example ‘Excel’ audit file. The test plan has also been mapped to an example audit scope and objectives, and includes example risks and controls. See below for an extract from the example work program file.
Want all of our templates? Become a member. Members can access all of the templates from the members area here.
As always, this is a generic template. You should review this template in detail and edit accordingly so it is suitable for your business.