Procurement and Vendor Management Process Audit
Check buying practices and vendor oversight.
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Audit how my organization buys and manages vendors. Spending and number of vendors: [SPENDING_AND_VENDORS]. Current buying process (who approves, how quotes are collected, how contracts are stored): [PROCESS_DESCRIPTION]. Problems we see: [PROBLEMS]. Work through the tree for a sample of purchases: 1. Is there a business need and an owner? IF not THEN stop and say why. 2. Was a budget approved before commitment? IF not THEN flag. 3. Spend size: IF below [LOW_LIMIT] THEN a simple approval; IF between THEN two quotes; IF above [HIGH_LIMIT] THEN a formal comparison with a score sheet. 4. Was the vendor checked (financial stability, security and privacy for data handling, references, conflicts of interest)? 5. Is there a written contract with clear scope, price, term, renewal, and exit? 6. Is delivery checked against the order before payment (three-way match)? 7. Is performance reviewed, and are renewals decided on purpose rather than by default? Deliver a gap table, a one-page purchasing policy with thresholds, a vendor register template (vendor, owner, spend, contract end, notice date, risk level), a performance review template, and a 90-day improvement plan. Mention segregation of duties. Not legal advice.
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