An internal auditor is preparing an internal control questionnaire for the procurement department as part of a preliminary survey. Which of the following would provide the best source of information for questions?
A.
A relevant procurement law or regulation.
B.
A list of the company ' s vendors.
C.
A review of a sample of tenders during the audited period.
D.
A summary of the company ' s expenditures and their categories.
When preparing an internal control questionnaire for the procurement department, referencing relevant procurement laws or regulations ensures that the questions are aligned with the legal and regulatory requirements governing procurement activities. This approach helps to ensure that the questionnaire addresses all necessary compliance issues and identifies potential gaps in the organization ' s procurement processes that could lead to non-compliance.
The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing, Standard 2201 - Planning Considerations
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