Procurement Cards

Audit Guidance

PROCUREMENT CARD PROGRAM
November 12, 2008

OVERVIEW

The use of the Procurement Card (P-Card) has many advantages including timely payment, reduction in time between requesting and receiving the goods, fewer checks and vouchers, and rebates based on usage. However, like any credit card there are inherent risks associated with the use of the card. Controls must be in place to ensure funds are available, supporting documentation is required and maintained, the cards are secure, cardholder limits have been established, and card activity is monitored.

To help ensure that P-Cards are being administered in accordance with SUNY and State Guidelines and to assist in strengthening internal controls over P-Card activity, we offer the following audit guidance. This audit guidance should be considered in conjunction with SUNY and State Guidelines.

KEY CONTROLS FOR THE P-CARD

Additional Information

SUNY Procurement Guidelines: http://www.suny.edu/sunypp/documents.cfm?doc_id=428

New York State Office of General Services P-Card Guidelines:  http://www.ogs.state.ny.us/purchase/pdfdocument/CreditCardGuidelines.pdf

For additional information, please contact the Office of the University Auditor at 518-320-1533 or University.Audit@sysadm.suny.edu

University Audit