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After reading the case what do you think Peter Inge should do? 7 Record keeping and accurate recording What is this about and why is
- After reading the case what do you think Peter Inge should do?
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7 Record keeping and accurate recording What is this about and why is it an issue? Books and records is a general term used in this guide to describe all business records. It includes accounts, correspondence, memoranda, tapes, discs, papers, books and any other documents. It is important because Page 3 9811M057 the various legal codes require that we maintain accurate and complete books and records. In order to combat corruption it is important that transactions are transparent, fully documented and coded to accounts that accurately reflect their nature. Attempting to conceal a payment can create a worse violation than the payment itself. What is the Asis policy? Asis books and records must be kept with reasonable detail and accuracy so that they correctly reflect all transactions. All controls and approval procedures must be followed. Asis books and records must not contain any false, misleading or other artificial entries. What does this mean in practice? Ensure that all your own transactions are fully documented, correctly approved and coded to the correct expense description. If you are aware or suspect that anyone is directly or indirectly falsifying the books and records or in any other way attempting to disguise a payment, you must report your concern immediately to the 'Compliance Helpdesk - Tell Us."
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