Session 1: May 7, 2018 - 1:00 PM - 3:00 PM
Session 2: May 9, 2018 - 1:00 PM - 3:00 PM
Organizations of all kinds, including government entities, benefit from Purchasing Card (P‑Card) usage, but card fraud is a real risk. For optimal P-Card program success, effective and efficient controls that do not hamper card usage are critical. As internal auditors, you fulfill an important role in evaluating the existing controls and driving program improvements, thereby helping your organization maximize the value of P-Cards.
Part 1: Purchasing Card Overview
Before you can properly audit a P-Card program, you need to understand this unique tool, including how it works and how it compares to other payment methods. Hear about the risks, as well as external protections. Learn how to define your role in supporting the card program and the challenges you may face as an auditor in the public sector. Part 1 ends with an introduction to P-Card risk analyses.
Part 2: Strategies for Auditing a Purchasing Card Program
Armed with a better understanding of P-Cards, you can lead the efforts to establish the right internal audit strategy for your organization. Part 2 is a deep dive into P-Card controls and elements you should audit during process audits and transaction audits.
Upon completion of this course, participants will be able to:
- Articulate the benefits of P-Cards.
- Explain how the P-Card purchase-to-pay (P2P) process differs from other processes.
- Convey elements of the P-Card control environment, which form the basis of audits.
- Identify common control gaps and ways to resolve them.
- Specify relevant criteria for transaction audits.
- Design process audits for testing existing controls.
IIA Member: $249
ACGA Member: $199
Lynn Larson, CPCP, has more than 15 years of Purchasing Card experience. In 2014, she founded Recharged Education LLC, which focuses on commercial card training, consulting, and resources. Her previous job roles include education manager for the National Association of Purchasing Card Professionals (NAPCP) and P-Card program manager for a public sector organization. In 2007, she earned the Certified Purchasing Card Professional (CPCP) credential. Larson has delivered numerous full-day P-Card workshops, as well as dozens of educational in-person and virtual presentations. She is the current author of the
P-Cards Refocused blog.