Client: Listen, Tommy. You should know this by now, seeing as youve been an auditor for a while. I know were a new client but all clients are basically the same. I was an auditor 10 years ago, so I know. As always, for cash, we get our statements and record the amounts stated on the statements into our GL at each month end. It would be immaterial to think about reconciling items, since they should be pretty close to the same each period. Our team is lean, so please dont go wasting my teams time asking further details. Everything ties without any issue. In regards to accounts payable we go through items daily as well. If something is not in by the 10th, we do not go back and post. We also do not make any accruals, as again theyre all the same each period, and so the budget to actual would catch anything material that is out of whack if our expenses are too high in the next month. Weve never had a material difference. Let me know if you have any questions. Ill be leaving today at 3pm and Im booked solid all week while youre out here, but Ill try to pencil in time if you really need anything. You shouldnt need anything though.

Based on this narrative, in your response please note one risk not being mitigated in either the cash cycle or the accounts payable cycle, and design a control to mitigate the risk (Hint: you may need to do some research on typical risks on these cycles and typical controls to mitigate the associated risks).