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1. Authorization of Purchases: proper authorization for acquisitions ensures that the goods acquired are for authorized company purposes.
2. For good internal control, the purchasing department should be separate from those who authorize the acquizition or receive the goods . For example, In Aviation industry, maintenace department authorize the acquisition , purchasing department process the order and clear it from customs, and receiving unit which under the supervision of Quality and Assurance department receive the goods and inspect them and approve them and after that the goods enter the company stores.
3. Separation of goods custody from other functions: receiving department initiate a receiving report as evidence of receipt and examination of goods. Original GRN sent to AP and a copy to stores unit along with the goods.
4. Timely recording and independent review of transactions: the account payable department is responsible for verifying the appropriateness of the acquisition.
5. Authorization of payment.
