Your risk assessment of Jenice Ltds business processes indicates that there is a risk that payments to suppliers are made prior to goods being received. As part of your examination of the information system and related control activities, you note that the following process is in place in relation to payments:

• A pre-numbered bank transfer requisition is prepared by accounting staff for all payments.
• Accounting staff then:
  • Match the details on the suppliers invoice to the appropriate receiving report; and
  • Match the details on the suppliers invoice and receiving report to an authorised purchase order.
• The bank transfer requisition, together with the above supporting documents, is then forwarded to the appropriate senior staff member for review and authorisation.

REQUIRED

1. Describe the required documentations of internal control matters that releated to the purchase payments
2. Identify the internal control activity that addresses the risk of payments being made to suppliers before the goods are delivered.
3. What assertion does this internal control address?