Finding Text
During our examination of internal controls over the disbursement process, a significant deficiency emerged, primarily concerning the documentation and approval procedures for various disbursements. Firstly, numerous disbursements lacked essential documentation, notably the absence of a Check Request Form and supporting materials like receipts, invoices, or Memoranda of Understanding (MOU). For credit card transactions, while supporting documentation such as invoices was provided, the corresponding Check Request Form was noticeably absent. Secondly, we encountered uncertainty in ascertaining the approval of expenditures from Fusion Management for the identified disbursements. The absence of a clear approval trail raises concerns regarding the authorization and oversight of these transactions. Lastly, a notable gap was identified in the lack of an evident process to determine whether Fusion staff reviewed the transactions to assess their compliance with allowable cost guidelines. This absence of a review mechanism creates uncertainty about the appropriateness of the incurred expenses.