68 does the system record relevant information on the

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Unformatted text preview: an eligible customer/consuming agency who is authorized to use the system and order the items? 66. Does the system ensure that inventory items issued are limited to available funds provided by the customer/consuming agency? IT Audit Manual Volume III 66 IT Audit Manual No 67. Item Does the system establish and maintain customer/consuming agency records if customer/consuming agency are billed or if tracking of individual customer/consuming agency data, business history, and preferences are important to the program? 68. Does the system record relevant information on the customer/consuming agency order, including items ordered; quantities requested; customer/consuming agency name and address; specifications, if appropriate; date received; and other data needed consistent with the inventory program? 69. Does the system facilitates recording of details in respect of Cheque or cash received with the customer/consuming agency order against the customer/consuming agency order and send the information to the Receipt Management function of the core financial system? 70. Does the system use inbuilt picking list of the stored items for selecting inventory items from storage for issue or other purposes? 71. Does the system automatically reduce quantities on hand by the number of items issued/removed? 72. Does the system provide advice to customer/consuming agency on shipments of material so that the customer/consuming agency may establish financial controls, as applicable, over shipments in transit from suppliers, and to establish the point of transfer of title? Title to inventory items may be passed to the customer/consuming agency at the point of sale or the point of destination, depending on the agreement with the demanding agency/department. 73. Does the system maintain records of items issued, including quantities, shipment methods, dates, destinations, etc., to assist in the reconciliation activities? 74. Does the system compare customer/consuming agency order records to issue records and flag any differences for followup? 75. Does the sy...
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This note was uploaded on 10/27/2013 for the course LAW 10-100 taught by Professor Parsons during the One '10 term at Bond College.

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