Finding Text
As a result of our audit, we noted that for the period January 1, 2023, through August 31, 2023, the general ledger (GL) expenses do not include vendor names. This is an internal control deficiency related to documentation and completeness of the audit trail. This deficiency can fall into one of these categories: 1. Documentation Deficiency The GL lacks sufficient detail to identify the source of transactions. Without vendor names, you cannot easily trace expenses, verify legitimacy, or perform reconciliation. 2. Audit Trail Deficiency Auditors expect transactions to be traceable from the financial statements back to the supporting documents. Missing vendor names breaks that trail.