Control Intelligence

Vendor Master & Onboarding

Controls over adding, changing, and approving vendors in the vendor master file.

Sub-Process Score
48/ 100
Needs Improvement
8/12 responses received
View AI AnalysisBack

Control Objectives (1)

P2P-VM-01
COSO P8COSO P12ICFR.P2P.VM.01IIA IV.9.4
New vendors are independently validated before being added to the vendor master.
Risk: Fictitious vendors enable fraudulent disbursements.
Assessment Questions (3)
  • 01TIN / W-9 / banking details are verified against an independent source.
  • 02Vendor master changes require a second-person approval.Document
  • 03Employee-vendor overlap (address, bank account) is screened quarterly.