ACCOUNTS PAYABLE

Priority Observation Risk / Implication Recommendation Management Response Personnel Responsi ble Expected Resolutio n Date

1.1.1 No formal procedure to review vendor master creation and maintenance activities Medium No formal procedure is in place to review creation and maintenance of vendor master data carried out by central procurement department. Incomplete and inaccurate vendors may be created in the system. Furthermore, deliberate or accidental changes to master data may remain undetected. Adequate procedures should be developed for monitoring of creation of and changes to the vendor master data. The Display of Vendor Changes report (RFKABL00) should be periodically reviewed by management to ensure that unauthorised changes are not made to the vendor master. Category: Operations Remarks: The Procurement should review the mentioned report to ensure that the unauthorized changes are not made to the vendors master record. Action: Release of instructions/ SOP (Pos/Non-Pos based vendors) for periodic review of unauthorized changes to the vendor master record EVP Procureme nt