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Audit Framework: GKN Purchasing Standard Audit

This document outlines an audit framework to evaluate compliance with GKN's purchasing standards. The audit focuses on standard #3350, which requires designating and nominating suppliers through the proper channels. The auditor will obtain documentation, interview staff, and analyze purchase data from the last three months. A sample of transactions will be checked to ensure materials were sourced from regular, approved suppliers rather than unauthorized brokers. Compliance will be evaluated based on available evidence of proper vendor selection processes. Audit frequency and sample sizes are determined by prescribed guidelines. Any deficiencies found will be documented along with corrective actions needed.

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Liew Chee Kiong
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46 views

Audit Framework: GKN Purchasing Standard Audit

This document outlines an audit framework to evaluate compliance with GKN's purchasing standards. The audit focuses on standard #3350, which requires designating and nominating suppliers through the proper channels. The auditor will obtain documentation, interview staff, and analyze purchase data from the last three months. A sample of transactions will be checked to ensure materials were sourced from regular, approved suppliers rather than unauthorized brokers. Compliance will be evaluated based on available evidence of proper vendor selection processes. Audit frequency and sample sizes are determined by prescribed guidelines. Any deficiencies found will be documented along with corrective actions needed.

Uploaded by

Liew Chee Kiong
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Audit Framework

GKN Purchasing Standard Audit


Periodic monitoring to ensure internal controls are embedded and sustained within
Control Objective GKN Purchasing Standard Usage
the Reporting Unit.

If Purchasing standard is properly follow or used through the purchasing system tools as to ensure internal controls
Guidance / Risk Addressed are embedded and sustained within the Reporting Unit which includes general preventative and detective controls.

Standard # Standard Description


Control Check Activity 3350 DM Select and nominate supplier

Person audited for This Control Objective)


Job Position

The test requires for example :-


I) Obtaining and reviewing the policy and performing discussion with Purchasing personnel on standards. Discussion
should also include process, potential reasons and situations the usage of the standards.

II) Obtaining the list of sample material for period allowing proper analysis of the process (at least last 3 months) and
by data analysis:
Prescribed Test(s) - Checking weather material sourced or process is used or followed properly by purchasing personnel

III) i.e By interview and data analysis checking whether there are instances of purchases from vendors/brokers which
are not regular suppliers to the site. In case of such, review is required of the available evidence of vendor selection,
taking into account list of brokers approved by Corporate.

Frequency of this test performed

Sample Size (per sample size guideline / prescribed


audit test)

Additional Samples Selected (based on testing


exceptions) - If Needed

Base Data For Sample Selection Provided By Who

Date Range / Period(s) of Base Data Used For Sample

1
Audit Framework
Sample Table (please add / delete rows as necessary, based on the frequency)
Sample Attribute Testing Performed Compliant?
# Comments / Corrective Actions
material (Y/N)
1
2
3
4
5
6
7
8
9
10

Overall of the findings


Major Findings
Examples of Minor / Major Deficiencies / Other
Documentation (attach samples of deficiencies or other
documents as deemed appropriate) - If Applicable

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