Vendor Rebates Audit Work Program

This audit program sample includes steps that can be used to understand and review an organization’s vendor rebate process.

Sample steps include: obtain and document an understanding of the accounting process and the vendor rebate program; document the methodology behind the inventory adjustments and assumptions used when booking the inventory adjustment; ask who is the appropriate level of management and describe the policies and procedures that management has in place to monitor compliance with terms of the vendor contracts; and discuss the audit with personnel and determine whether any areas require special attention.