Essay beneficial to safe
12) Questionnaire Checklist for Basic Activities in Expenditure Cycle.
Is data encrypted?
No. If data is not encrypted hereafter who is not authorized can acquire the personal information of suppliers.
Is there a recovery mode and is data regularly backed up?
No. If a restoration mode and data backup is not in residence then data could be lost permanently.
Is addition restricted to the master file of suppliers?
No. If access is not restricted then unauthorized personnel could say further fictitious suppliers and commit fraud.
Are based on competition supplier bids taken?
No. Then it convenient that you may overpay for materials and products.
Are in that place proper data entry controls in town?
No. If the proper entry controls are not in spot then errors can occur in supplier receivables and payables, what one. can cause an overpayment.
Are whole invoices filed in a timely behavior?
No. If invoices are not filed ~ the agency of the due date then discounts testament be lost.
Is a perpetual inventory system used?
No. Then it likable that inventory efficiency will suffer and originate shortages/overages.
Are there physical register. checks?
No. Then it is convenient that spillage, theft, and etc. be possible to occur. Also, physical checks/counts should subsist taken to increase the effectiveness of a interminable system.
Is access to physical account restricted?
No. Without restrictions to material inventory, opportunity for theft increase.
Are deliveries inspected conducive to quality?
No. If deliveries are not inspected at that time it can increase the number of defected products and/or abate customer repurchases.
Did the receiving division have training on how to sake for deliveries and when to take . them?
No. If the employees vouchsafe not properly account for deliveries at another time you could be paying for products not accepted. And if they accept deliveries in a brown study purchase orders, then you could obtain idle inventory and increased carrying costs.
Are budgets created?
No. Without budgets the opportunity to do fraud increase as...п»ї
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