Vendors: Audit purchasing and materials management contracts
Health Care Auditing Strategies, January 1, 2005
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Vendor contracts for equipment and supplies represent a significant portion of a healthcare organization's operating budget. It is important to review your organization's controls over purchasing/materials management to ensure that it receives maximum benefits and complies with organizational policies and procedures for each product it purchases.
Catherine Wakefield, administrator of corporate compliance and internal audit for Multicare Health System in Tacoma, WA, presented an auditing plan for vendor contracts during the Association of Healthcare Internal Auditor's conference in Las Vegas in October 2004.
The following are Wakefield's steps for completing an effective audit of the purchasing/materials management process:
1. Talk to the stakeholders.
Consider the interests of all the parties involved in the purchasing/ materials management process to focus your audit. Interview the following parties to understand their issues, concerns, and perceptions of the risks:
This is an excerpt from a member only article. To read the article in its entirety, please login.
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