Answer: We found a lack of documented evidence for the review and approval of an expense.
Trend: This indicates a potential weakness in our internal controls over expenses.
List: Recommend implementing a system to ensure all expenses have proper documentation for review and approval.
Finding Text
While performing tests of the internal controls over expenses, we
noted there was no documented evidence of the review and
approval for one of the expense samples selected for testing.
Corrective Action Plan
Bills will be sent to management to be reviewed and approved through Adobe for their signature. Once the bills have been approved, accounts payable will pay the bills.