Identify two (2) risks for the selected unit.

ACCOUNTS PAYABLE UNIT

Assumptions:

1.The objective of Accounts Payable unit is to process all 3rd party invoices and intercompany payables accurately and timely. AP Team has no target number of invoice that they should process daily. 2.The 3rd party Vendors and / or Contact persons for a specific intercompany payables are expected to submit an original and complete copy of applicable documents as per policy. 3.All invoices from Supplier are received by Procurement Team and such are forwarded to AP Team daily. Procurement Team attached in the invoice the approved copy of Purchase Order (PO) 4.Goods receiving Team forward to AP Team a copy of Delivery Receipt (DR). 5.Three-way matching of PO, invoice, and DR is done manually (visual only) by AP processor. 6.Each processor keep their own file of the Vendor information in excel

The Accounts Payable unit job description is as follows:

-One (1) Accounts Payable Manager oversees day to day operations of the unit and handle issue escalation. -One (1) Team Leadsupervises and coach the AP Processors. Also responsible in monitoring daily team performance based on SLA. -Five (5)AP Processorsresponsible to review completeness of documents prior to actual processing. Notify Vendor and/or Contact Person in case submitted documents has issues. -Two (2) Service Desks responsible to answer Vendor payment follow ups, receive and document complaints and escalate to process owner, if required