In Sarbanes-Oxley internal overview, what is acceptable for setting up a new vendor? We were relying on the W-9. But our internal auditors deem this inadequate since anyone could fax a W-9 form. How do we vet a new vendor?


It is a good business practice to get a W-9 for all of your vendors but a W-9 does not prove the vendor is authentic. For suggestions on Vendor validation, see Vendor Due Diligence: Verifying New Vendor Legitimacy.

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