Audit of vendor management, phase I /

The integrity and accuracy of the Vendor Master File information is the foundation for efficient and effective payment processing. [...] An officer in the business centre opens the request and reviews the input made by the requester. [...] Vendor validation is a key control to reduce the risk of the Department making payments to inappropriate or fraudulent organisations and to increase the integrity of the Vendor Master File. [...] The current process only ensures the existence and completeness of the required information for a new vendor creation. [...] The audit team encourages CFOB to enhance system controls by preventing the same person from being both the enhancer and approver of the vendor creation/update request.