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2 years ago
One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals a cheque made payable to a legitimate vendor. The purchases information is then resubmitted for payment and the second cheque sent to the vendor. How could such a theft be prevented?
A) cancel supporting documents to prevent their being re-used
B) make sure that all payments are supported by valid documents
C) reconcile the transaction files to the accounts payable master file
D) have receiving reports authorized independently
Textbook 
Auditing: The Art and Science of Assurance Engagements, Canadian Edition
Edition: 12th
Authors:
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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)
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