Auditing
Vendor Relationships by Mark Salamasick.
The trend toward outsourcing is continuing at a rapid
pace. Processes are
being turned over and control is being relinquished for
many tasks that have
been identified as non-core to the company. Many times,
these outsourcing
partnerships are successful and result in increased profits
for the company.
However, on some occasions outsourcing can have unintended
and unforeseen
consequences for the bottom line of the organization.
To avoid these
unwanted risks, management should employ the full use
of the internal audit
department and the skills that many of the internal audit
staff bring to the
table. The aim of the handbook is to provide the auditor
with the tools
necessary to create a successful partnership for outsourced
services and to
provide management with the assurance that the outsourced
processes are
effective and efficient.