Procurement card audit software

Pcard office solutions help organizations using any corporate card to automatically conduct audits of all card transactions using rules and parameters tailored to. Procurement card office of internal audit partnering. Detect and prevent company card fraud, noncompliant spending, reduce. There are two primary types of pcard auditstransaction audits and process audits.

Patisserie valerie fraud investigations discover fake invoices, audits find procurement card misuse at universities and wirecard allegedly forged transactions. Purchasing card audit university audit services finance division. We provide frequent, timely analysis to manage and address risks to the pcard program. Pcard audits can be categorized into two primary typestransaction audits and process audits sometimes called performance audits. Operating a procurement card program the balance small. Transaction audits often draw the most attention because they are aimed at detecting fraudulent activity. The card issuer may provide software, but sometimes this software doesnt go far enough. Easily reconcile purchasing card transactions and digitize receipts for a paperless process.

The department of internal audit has completed its audit of the financial services department enterprise procurement card program to determine whether internal controls effectively manage key business risks inherent to this activity. Automatic monitoring of 100% of your pcard transactions prevents noncompliant spending and minimizes risk. Purchasing card pcard audit services monitors compliance with university policies and procedures in relation to the purchasing card pcard program and ensures that cardholders adhere to committed agreements. Are pcards and their card numbers properly secured.

Government purchase card audit framework council of the. Auditing and compliance strategies for a solid purchasing. Objective the objectives of this audit were as follows. The scope of the procurement card program audit was from february 1, 20 to january 31, 2015.

The ocu purchasing card program will be under the oversight of the purchasing card committee. In light of the procurement card programs growth and problems previously identified by sandia internal audit and the office of inspector general, we sought to determine whether procurement cards were being used appropriately. In tennessee, county employees resigned amid a purchasing card scandal that. The procurement card, or pcard, is a form of company credit card that is issued to employees who can then acquire goods and services without having to process the transaction through the traditional purchasing procedure, such as using purchase requisitions or purchase orders. This guide is a general framework work for auditing government purchase card programs. The government procurement card national audit office. Auditing a purchasing card program recharged education. Request that the agency designate a staff member to serve as primary contact during audit. The ocu purchasing card program will be under the oversight of the purchasing card. This business credit card management software is the answer. Procurement card compliance university of colorado. Performance audit fiscal year 2018 higher education procurement card february 5, 2020 the auditor of accounts aoa performed a performance audit to determine whether internal controls over procurement card activities at delaware technical community college were effective in. Databasics p card management offers savings in time through accounts payable, automation, accurate reconciliation, and full visibility of p card spend. However, pcard transaction amounts can be substantial, making attentiongrabbing headlines if fraud or misuse is detected.

A state audit report blamed the university for its lax supervision of the card program. Austin city council a report to the procurement card usage. Towson universitys procurement card program is subject to audit by three different entities. The procurement card usage communications and technology management audit was conducted as part of the oca fy 2015 strategic audit plan, as presented to the city council audit and finance committee based on a risk assessment of procurement card usage in all departments. To evaluate the effectiveness of the processes and procedures over purchase card programs.

Procurement card audit work program the purpose of this work program is to provide the general steps used to perform a procurement card audit. Audit report on the use of procurement cards by the. Automatic monitoring of 100% of your p card transactions prevents noncompliant spending and minimizes risk. The pcard monthly audit policy and process for regular p. This represents a 38% increase in pcard activity since fy2012. Audit objective the objectives of this audit were to. The report finds that used appropriately, the government procurement card can be a costeffective way for. Procurement card audit work program knowledgeleader. Post transactions automatically to your backoffice systems when audit workflow is complete. After completing the audit of pcard transactions, the program analyst will notify cardholders and departmental pcard administrators dpads of any violations.

Financial services department enterprise procurement card. The national audit office has today published a report on central governments use of the government procurement card to pay for goods and services. In most eu member states, procurement represents up to 30% of public spending. The purpose of this audit was to determine compliance with the citys procurement card policy. Purchasing card audit program oklahoma city university. Towson university 8000 york rd, towson md 21252 410 704 21 71 towson. We found that compliance with pcard procedures and requirements has improved when compared to the prior year external audit results. Card holders are responsible for the safe keeping of the card and number to reduce risk of theft or unauthorized purchases. Pcard office audits card transactions, uncovers and analyzes violations, and provides corrective actions based on each programs established procurement guidelines and protocols. Our goal is to improve the quality and coverage of audit procedures while.

Auditing procurement cards p cards brad tomlinson, assistant administrator computer assisted audit group ohio department of taxation, audit division telephone 6143872068 email. The procurement card should not be confused with the universitys mastercard travel card, which is a separate program, designed to facilitate the handling of travel and entertainment expenses. The objective of this audit w as to determine whether existing internal controls are effective and adequate to govern procurement card use. The top merchant codes used are typically food and supplies purchases. P card audits can be categorized into two primary typestransaction audits and process audits sometimes called performance audits. Procurement card program audit checklist contact the agencys program coordinator approximately one month in advance of the audit fieldwork date to confirm that the agency has no serious conflicts with the scheduled audit fieldwork date. The first question asked how purchasing card transactions are selected for audit. Performance audit of the procurement card program oca03 page 6 capacity of maxing out pcards, the city maintains controls that should limit the risk. The city auditor has conducted a procurement card pcard audit. We found that compliance with p card procedures and requirements has improved when compared to the prior year external audit results. Audit program steps preliminary survey during the preliminary survey, the auditor should gain an understanding of how purchasing occurs within an organization. It provides audit steps designed to determine the effectiveness of a purchase card programs processes and procedures. Select purchase card purchases a maximum of 25 transactions, using the entitys technology software, to ascertain whether purchases arewere authorized and relate to appropriate business assess interface between pcard software and other applicable financial gl and procurement systems.

Unlike the mastercard travel cards, university funds are committed whenever the procurement card is used to purchase merchandise. This brief aims to give guidance that is relevant and. Having a pcard accounting process in place will assist when it comes time for the pcard audit. Purchase card spend is rarely scrutinized because there are often a small number of approved users. On june 7, 2016, the city of surprise city had 229 active procurement purchasing cards pcards issued to city employees. Audit findings and conclusions dot has monetary restrictions for cardholders, maintains a monthly log of purchases by cardholders, pays credit card bills within the contractually stipulated timeframe. Audit report in brief the audit determined whether the department of transportation dot had adequate internal controls over the use of procurement cards. The pcard monthly audit policy and process for regular pcards revised 82014 overview. Onsite audits are conducted on a continuous basis, with all departmental cards being audited annually, and individual cardholders randomly selected from each department for audits. Supreme audit institutions sais audit the use of public resources, but their audit mandates and activities vary, as do national budgeting systems and public procurement regulations.

Although the procard program was designed to be a more efficient, costeffective method of purchasing and paying for small dollar transactions. This sample work program outlines an effective audit of a companys pcard program, including the following process areas. However, p card transaction amounts can be substantial, making attentiongrabbing headlines if fraud or misuse is detected. Take control of purchase cards with automated pcard audit. Such compliance pertains, but is not limited, to the following key concepts. This document certifies that you, as the cardholder, are in compliance with all procurement card policies and procedures for the above reconciliation period. A crucial part of the universitys procurement card program is the ongoing auditing feature. Are pcard vouchers reconciled and routed in workflow prior to the 18th of the month following the. Procurement card audit report dated december 11, 2014. A related ipolling tm question documented member company experience with this topic. Databasics pcard management offers savings in time through accounts payable, automation, accurate reconciliation, and full visibility of pcard spend. Transaction audits often draw the most attention because they are aimed at. Control your purchase card program with oversights automated pcard audit solution.