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.
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.
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
- Expense report was completed, reconciled, and
properly approved within a timely manner.
- Expense has adequate supporting documentation
- 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.
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
- Leanne Thomas, Accounts Payable Manager.
- Denise Durden, Procurement Card Coordinator.
If deemed necessary, the audit team will
follow-up on department management corrective action plans to ensure audit
recommendations are completed.