Get the free Follow-up of the P-Card Program Audit - cabq

This document reports on the follow-up audit of the Purchasing Card (P-Card) Program, detailing the progress made by the Chief Administrative Officer, Council Services, and Department of Finance and

How to fill out follow-up of form p-card

How to fill out Follow-up of the P-Card Program Audit

1. Gather all necessary documentation related to P-Card transactions.
2. Review the findings of the initial audit report.
3. Create an action plan to address each issue raised in the audit.
4. Assign responsibilities to relevant team members for implementation of corrective actions.
5. Set deadlines for completing the follow-up actions.
6. Document all completed actions and evidence of improvement.
7. Prepare a summary report detailing the steps taken and outcomes.
8. Submit the follow-up report to the relevant stakeholders.

Who needs Follow-up of the P-Card Program Audit?

1. P-Card Program administrators
2. Financial compliance teams
3. Internal auditors
4. Departments using P-Cards
5. Senior management

People Also Ask about

How to audit p cards?

Your strategy should include auditing transactions that have certain attributes, such as those: at or above a certain dollar threshold. with certain merchant category codes (MCCs) and/or suppliers (e.g., Amazon) containing key words that could indicate a prohibited purchase per your policies and procedures.

What is the follow-up phase of the audit?

[1] Follow-up Audit Reviewing and evaluating the corrective action response of the Client. Confirming the content on the “when, who, where, and how” to the response. Monitoring and reviewing the Client‟s actions to address the deficiencies and recommendations. Conducting a follow-up audit, or re-audit if necessary.

What are the 5 components of internal audit?

The five components of internal controls are: Control Environment. Risk Assessment. Control Activities. Information and Communication. Monitoring.

What are the 5 stages of the internal audit process?

Internal audit conducts assurance audits through a five-phase process which includes selection, planning, conducting fieldwork, reporting results, and following up on corrective action plans.

What is the follow-up of internal audit recommendations report?

The follow-up report should provide a clear and concise summary of the status of the recommendations, the actions taken, and the results of the verification activities. It should highlight any outstanding issues and recommend further actions if needed.

What are the 5 steps of the audit cycle?

Key points Audit measures practice against performance. The audit cycle involves five stages: preparing for audit; selecting criteria; measuring performance level; making improvements; sustaining improvements.

What are the 5 C's of the internal audit process?

The “Five C's” are criteria, condition, cause, consequence, and corrective action. Here are the details on each of these items and what a team's auditing report should make sure to include.

What are the 5 steps of the internal audit process?

Internal audit conducts assurance audits through a five-phase process which includes selection, planning, conducting fieldwork, reporting results, and following up on corrective action plans.

For pdfFiller’s FAQs

What is Follow-up of the P-Card Program Audit?

The Follow-up of the P-Card Program Audit is a process that reviews the findings and recommendations made during the initial audit of the P-Card program to ensure corrective actions have been implemented and that compliance with policies is maintained.

Who is required to file Follow-up of the P-Card Program Audit?

Departments and units that utilize the P-Card program and have undergone an audit are required to file a Follow-up of the P-Card Program Audit to demonstrate that they have addressed any identified issues.

How to fill out Follow-up of the P-Card Program Audit?

To fill out the Follow-up of the P-Card Program Audit, individuals should gather evidence of corrective actions taken, complete the specified forms detailing the findings from the initial audit, and submit the documentation to the appropriate oversight body as directed.

What is the purpose of Follow-up of the P-Card Program Audit?

The purpose of the Follow-up of the P-Card Program Audit is to ensure accountability, verify that corrective measures have been taken in response to audit findings, and to enhance the effectiveness and compliance of the P-Card program moving forward.

What information must be reported on Follow-up of the P-Card Program Audit?

The information that must be reported includes the status of corrective actions taken, any remaining issues or concerns from the initial audit, timelines for resolution, and supporting documentation that verifies compliance with recommendations.