Accounts Payable Controls Questionnaire
Accounts Payable Controls Questionnaire from AuditNet
Process Background Information
1. 1
Manager responsible for process
2. 2
Number of FTEs in accounts payable process
3. 3
Average number of invoices processed per month
4. 4
Average number of disbursements/checks per month
5. 5
Days payable outstanding
6. 6
Number of information system(s) used in processing accounts payable
7. 7
Is the accounts payable system directly linked to the general ledger?
Control Objectives
1. 8
How would you evaluate the effectiveness of the current process in achieving the following control objectives? Use a scale of 1 to 5, with 1=Not effective and 5=Highly effective.
2. 8.1 20490
Accounts payable and cash disbursements / electronic fund transfer disbursements are properly authorized.
3. 8.2
All liabilities are recorded on a timely basis.
4. 8.3
Accounts payable are accurately and completely recorded on a timely basis.
5. 8.4
Cash disbursements / electronic fund transfer disbursements are accurately and completely made and recorded on a timely basis.
6. 8.5
Accounts payable and cash disbursements / electronic fund transfer disbursements are reliably processed and reported.
7. 8.6
Recorded accounts payable balances are substantiated.
8. 8.7
Recorded accounts payable balances are evaluated.
9. 8.8
Performance measures used to control and improve the process are reliable.
10. 8.9
Employees and management are provided with the information they need to control the accounts payable process.
11. 8.10
Costs are reduced as much as possible.
12. 8.11
Processing time is minimized.
13. 8.12
Management develops alliances with key suppliers.
14. 9
Are their internal control concerns related to this process that require immediate attention? If yes, please describe.
15. 10
Are there adequate resources to effectively and efficiently perform this process? If not, please describe.
16. 11
How would you rate the overall quality of this process? Use a scale of 1 to 5, with 1=Poor and 5=Best Practice or Best in Class.
17. 12
Are there any other general concerns related to this process which should be brought to the attention of the Business Unit Controller as part of this Quarterly Review?If yes, please describe.