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One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals ...

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One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals ...

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

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Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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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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