Office of Internal Audit

Procurement Card (Pcard)

1. Are Pcards and their card numbers properly secured?
  • Ideal answer: Yes. Card holders are responsible for the safe keeping of the card and number to reduce risk of theft or unauthorized purchases. This can be done by storing the card in a locked desk or file drawer.

2. Are Pcard statements reconciled after the end of each month’s billing cycle and Pcard journal entry vouchers prepared and routed for approval to Office of Business Operations (OBO) prior to the 18th of each month?

  • Ideal answer: Yes. Each Pcard holder is responsible for timely reconciliation of monthly statements. Accounts Payable policy requires this by the 18th of the month following each billing cycle.
3. Are all purchases compliant with University Pcard policy?
  • Ideal answer: Yes. Monthly reconciliations will confirm all transactions are legitimate. Additional information on pcard policy, training, discounts, updates, and other frequently asked questions (FAQ's) can be found on OBO’s website for procurement cards at: Procurement Card Guidelines .