Which of the following is not likely to be included as an audit step when assessing vendor performance policies?
Which of the following is not likely to be included as an audit step when assessing vendor performance policies?
When assessing vendor performance policies, the focus is typically on the timeliness, quality, compliance, and appropriateness of the goods or services provided by the vendors. This includes checking if agreed-upon lot sizes are sent, if only authorized items are received, and if the goods meet quality standards. However, determining whether the balances owed to vendors are correct pertains more to financial auditing rather than evaluating vendor performance policies. Therefore, this step is not likely to be included when specifically assessing vendor performance policies.
The question is about assessing the policy. Option C addresses an objective for financial audit.
What's the rationale for C? Please help
The company evaluates the the third party service and not the debt owed to the third party.