Answer: Several invoices lacked proper approval documentation during cash disbursement tests.
Trend: This issue indicates a recurring problem with invoice approval processes.
List: Follow up by reviewing approval workflows and ensuring all invoices have necessary documentation before payment.
Finding Text
Test of controls of cash disbursements found multiple instances where invoices had no documentation to show they were properly approved.
Corrective Action Plan
Procedures have been established and implemented to insist controls are in place and being followed to avoid risk of error and /or fraud. Management will make sure all disbursements are properly approved and maintain correct documentation.