| Event/Transaction |
Risk |
| The payment process does not adhere to the principle of segregation of duties. A single individual is responsible for entering new suppliers into the payable system accounts, issuing checks, initiating payments electronically, and reconciling the accounts payable bank account. |
D |
| Instead of documenting payables and related expenses in the current period, postpone doing so until the period following year-end. |
A |
| Long overdue transactions were not properly investigated. |
E |
| The authorised vendor was paid, but no invoice was kept. |
C |
| Without good cause, you have favoured one seller above the others while making purchases and making payments. |
F |
| When reconciling bank accounts, no one verifies that the payees match up with the vendors listed on the general ledger (they only compare the amounts shown on the bank account and the general ledger). |
B |
