Which of the following is a key element in the development of an auditable supply...

Define Internal Controls: Internal controls are essential in ensuring that all supply chain activities are conducted as per the established policies and procedures.

Create Documentation: Effective internal controls include thorough documentation of all processes, ensuring traceability and accountability.

Implement Monitoring Mechanisms: Regular monitoring and audits of the supply chain activities are part of effective internal controls. This helps in identifying discrepancies and taking corrective actions.

Enhance Transparency: By having effective internal controls, the supply chain becomes more transparent, making it easier to conduct audits and ensure compliance with regulatory requirements.

References:

Institute of Internal Auditors (IIA): "Standards for Internal Control in the Federal Government"

APICS: "Supply Chain Management: A Comprehensive Guide"