COMMON AUDIT ISSUES
Purchase Card Cancellation
We recently tested the timeliness of departmental action in canceling Purchasing Cards for individuals who either changed jobs or terminated their UW employment. We found that some purchase card cancellations were done in an untimely manner. Untimely cancellation of credit cards can lead to card misuse and an increased exposure to loss for both the cardholder as well as the department. We would like to remind everyone that cardholders are responsible for any use of P-cards. Before their departure, cardholders should cut up the card and forward it to Purchasing Card Program Manager.
We also found some departments continued to use P-cards (issued in the departed cardholder's name) after cardholders left the department. Cards should not be used after the employee leaves because the individual who accepted responsibility is no longer in the department. With the cardholder gone, there is no email notice of purchases.
Please visit Purchase Card Policies and Procedures for proper P-card cancellation procedure.
Business Services News - September 2004