Identify inconsistencies and anomalies in controls. Include the following details in your response:

Identify any discrepancies in the controls.

Identify numbers that appear irregular $($red flags$).$

Identify risks for potential fraud, stealing, or information exposure by reviewing the general ledger$/$journal numbers. Consider the following in your response:

Determine whether established security procedures are being followed.

Examine roles and access to data.

DetTransactions Involving Purchase Orders

Accounts payable receives the appropriate documentation from the pertinent department indicating goods and services have been received. A three$-$way match of the purchase order, invoice, and receiving document is performed and approved by accounts payable. Once approved by accounts payable, a payment voucher is created in the Oracle NetSuite system for payment.

Employee Reimbursement Requests

The company will reimburse employees for business expenses incurred as part of their job responsibilities or incurred while on company required travel. Employees request and submit all supporting documents for these expenses utilizing the web$-$based expense reimbursement system. These transactions are approved electronically by the employee$$s department head. Once all approvals have been made the document electronically passes to accounts payable. Accounts payable reviews the supporting documentation and approves the report for reimbursement.

Check Processing and Distribution

i$.$ Checks

Checks are processed on Tuesdays and Thursdays and distributed on Tuesdays and Fridays by accounts payable. It is the general policy of A$/$P to mail checks to vendors within thirty days of invoice date. Expedited processing can be approved by the controller or by the accounts payable team lead.

ii$.$ Accounts Payable

Accounts payable mails checks directly to the vendors to maintain control over checks and to limit the additional time necessary for special handling. It must be clearly noted on the invoice when sent to A$/$P if a circumstance exists where the check should not be directly mailed from the finance$/$accounting office. The controller reviews and approves any exceptions to direct mailing.

iii. Invoices

If a circumstance exists where a copy of the invoice is required to be mailed with payment, this must be clearly marked on the invoice when sent to A$/$P$.$ It is also the responsibility of the office forwarding the invoice to furnish a copy of the document that must accompany the payment. The invoice must remain in A$/$P$.$

iv$.$ Vendors

All vendors are required to complete a W$-9$ prior to being added to the vendor file for payment. Any payments made to an independent contractor or an unincorporated vendor for services require the organization to prepare and mail a Form $1099$ after the calendar year$-$end.

v$.$ Payments

Payments to non$-$U$.$S$.$ citizens cannot be disbursed prior to the receipt of a completed Foreign National Information Form certifying foreign status, or any other applicable documents.

Receiving Procedures

Goods are delivered directly to the requesting office. The requestor receives the goods and packing slip. After the goods or services have been received the packing slip should be signed indicating receipt of goods and scanned and emailed to accounts payable. Below are units payable.

i$.$ Partial Shipment

If you receive a partial shipment, mark the items and date received on your receiving report, photocopy the receiving report, sign, and date the copy and send the copy to accounts payable. Send the original receiving report when all items have been received.

ii$.$ Complete Shipment

If all items are received from the vendor, sign, and date the receiving report and send the receiving report to accounts payable.

iii. Returns

Sometimes the goods received need to be returned. The requestor should contact the vendor to inform them of the need to return and obtain a return authorization number. The requesting office should repackage the goods and place the return address label on the package. The package should be returned to the vendor. After the order has been received by the vendor notify the purchasing office and have the purchase order modified or voided.

iv$.$ Cancellations

When goods or services are ordered but not needed, the requesting office should contact the purchasing office staff to inform them of the need to cancel the order. The purchase order generated will be closed$/$modified in the financial accounting system.Sheet$1$