This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: • The control procedure to prevent threats – Accept only deliveries for an approved purchase order – Company must clearly communicate to receiving clerks the importance of carefully and accurately counting all deliveries. – Use of bar codes and RFID tags can significantly reduce accidental mistakes in counting – Hold the appropriate supervisor responsible for all such costs incurred by that department (one way to control purchase of services) – Detect controls are needed. One of the most techniques is for the internal audit function to periodically conduct detailed reviews of contracts for services, including audits of supplier records. – Use to Safe guard inventory to against loss – Be stored in secure place – Be documented – Be counted the inventory periodically on hand and to reconcile those counts with the inventory record. – Proper segregation of duties can further help minimize the risk of inventory theft....
View Full Document
- Spring '11
- Supply Chain Management, Financial audit, Vice President of the United States