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Audit minded Consulting

Accounts payable

Essentials: The more "Yes" the more effective is management of accounts payable:

  1. There is an department global sourcing.
  2. Sources are validated systematically.
  3. Database of sources is subject to analysises for concentration.
  4. Permanent supplier have to undergo the same procedure as new one´s.
  5. Dependence from one single source is negliglible.
  6. Products and services are distinguished according ABC-Analysis and treated differently.
  7. ...

Consulting issues: An effective Internal Control System for accounts payable requires the following as a minimum:

  1. Number of accounts payable are pre-defined and groupable.
  2. Recognizing of the number is centralized.
  3. Double payments are controlled separately.
  4. Discounts and bonusses are deducted or required regularly.
  5. Tendering of demands of different merchandise is done yearly.
  6. ...