Audit Templates (Standalone)

Objective(s)

• Purchasing function is performed in accordance with management’s policies and procedures.
• Purchasing is performed in an effective, efficient, and economical manner.
• Purchasing function protects the best interests of the company in getting the highest quality product at the lowest price, thereby avoiding actual or apparent conflict of interest.
• Purchasing function ensures continual supply of needed materials without any significant delays impacting overall supply chain.
• Procedures are established to validate that what has been ordered is received before financial settlement.
• No undue influence by vendors to get order, or no favoritism shown to vendors unless warranted through product quality and price.