Finding Text
Approval of Invoices-Criteria:The Association is required to have invoices initialed by the Chief Financial Officer or the Chief Executive Officer prior to being paid.Condition and Cause:The Association was unable to provide documentation of approval for 8 of the 50 invoices selected for testing.Effect:The Association is not following its cash disbursement process in accordance with its accounting policy and procedures manual.Recommendation:The Association should document evidence of approval on the invoices being paid in accordance with its accounting policy and procedures manual.