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The purchases cycle : :, The payment cycle, Substantive testing,…

- - - - . A list of approved suppliers must exist from which the buyer may acquire goods and under no circumstance
        must there be deviated from this approved list;
      - Authorisation from a senior within the department is to be obtained where suppliers other than those authorised
        are used;
      - All changes to the list of authorised suppliers are to be authorised by a senior in the department;
    - - Sequentially numbered PO’s are to be completed;
      - PO’s should include the following information:
        
        i. The name of the supplier;
        
        ii. The quantity ordered;
        
        iii. A description of the goods;
        
        iv. The price of the good;
        
        v. Discounts;
        
        vi. Terms of payment;
        
        vii. Delivery address; and
        
        viii. Signature of the by the buyer/purchase department
- - - - a. The GRN should include the following detail:
      - i. The quantity of goods received
      - ii. The purchase order number
      - iii. The date on which goods was received
      - iv. A description of the goods
      - v. Details of the person who received the goods.
      - b. The GRN should be issued in duplicate format with copies sent to the following:
      - i. Ordering department; and
      - ii. Together with the copy of the PO and DN to the accounts department.
  - - - a. Damaged goods are not to be accepted;
      - b. Must be returned to the supplier; and
      - c. The accounts and purchasing departments must be notified accordingly