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The Audit Process

Similar to a traditional audit, the P-Card audit process includes four phases, and each phase may require the involvement of the audit clients.

Planning

The audit team will send an audit notification letter to the Department Head of the area scheduled to be audited.  This notification will inform the audit client that our office will be performing a desktop P-Card audit of their area along with the time frame the review will cover.

 

In addition, the notification letter will provide the client with an estimated start date of fieldwork, along with an estimated timeline to completion.  While these dates are estimations and subject to change, it allows the client to prepare for the review and notify any applicable departmental employees.

Fieldwork

The audit team will select for review all, or a sample of, purchases made by current and/or prior cardholders within the department.  The purchases selected will fall within the time frame documented in the audit notification letter.  During our review, the audit team examines transactions to ensure: 

  • Expense is an allowable cost per the Expenditure Matrix.  If needed, any supplemental approval is obtained (e.g. Environmental Health & Safety, Marketing and Publications, etc.).
  • Expense report was completed, reconciled, and properly approved within a timely manner.
  • Expense has adequate supporting documentation within Concur.
  • Purchase incurred no Florida Sales Tax.
  • Expense is a reasonable purchase per the mission of the department/university.
  • Expenses are not split purchases.
  • Expenses are charged to an appropriate FOAP (Fund, Organization, Account, Program).
  • No unallowable or personal purchases.  If so, university was reimbursed.
  • Returns and refunds are fully credited back to the P-Card used for initial purchase.

Reporting

At the completion of fieldwork, the audit team will provide an opportunity for department leadership, along with the Financial Manager/Cost Object Approver, to meet with the audit team to discuss any tentative observations.  This meeting is known as an Informal Exit Summary

 

At the completion of the Informal Exit Summary, the audit team will prepare the Procurement Card Desktop Audit Report.

 

The final audit report is sent to the audit area department head with copies sent to the following: 

  • Vice President/Dean over audit area.
  • Any additional department applicable individuals.
  • Eric Dickey, Associate Director of Procurement Services.
  • Leanne Thomas, Accounts Payable Manager.
  • Denise Durden, Procurement Card Coordinator.

Follow-up

If deemed necessary, the audit team will follow-up on department management corrective action plans to ensure audit recommendations are completed.