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Purchasing Card Audits
Accounting & Financial Services, and the University’s Internal Auditor will audit accounts to ensure reconciliations are completed in a timely manner and that cards are being used according to these procedures and University Expenditure Regulations. Three audits are possible – daily audits, monthly audits, and audits by external auditors. Daily audits are transactions that get reviewed daily for sales tax, split purchases, and unallowable purchases. If there is a question in regard to a daily transaction, the cardholder will be contacted via e-mail.  A monthly audit consists of the purchases for multiple months being reviewed. These audits may either be mailed in or conducted in the cardholder’s office. Monthly audits are chosen at random, unless a specific audit request has been made. External auditors will randomly choose specific reconciliations to review during their annual audit.
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Modified 11/14/2018
Article ID: 468