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  • Walker Books

    Transféré par

    JN Villacruel Abayari
    3K vues2 pages
    The document outlines internal control weaknesses in Walker Books' purchasing system. It recommends separating purchasing authorization from inventory control and implementing three-way matching of purchase orders, receiving reports, and invoices. It also advises keeping invoices rather than destroying them for auditing, and signing checks only with supporting documents and valid vendor verification. Receiving should use purchase order copies to count and inspect incoming goods.

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    The document outlines internal control weaknesses in Walker Books' purchasing system. It recommends separating purchasing authorization from inventory control and implementing three-way matching of purchase orders, receiving reports, and invoices. It also advises keeping invoices rather than destroying them for auditing, and signing checks only with supporting documents and valid vendor verification. Receiving should use purchase order copies to count and inspect incoming goods.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    3K vues2 pages

    Walker Books

    Transféré par

    JN Villacruel Abayari
    The document outlines internal control weaknesses in Walker Books' purchasing system. It recommends separating purchasing authorization from inventory control and implementing three-way matching of purchase orders, receiving reports, and invoices. It also advises keeping invoices rather than destroying them for auditing, and signing checks only with supporting documents and valid vendor verification. Receiving should use purchase order copies to count and inspect incoming goods.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 2

    Walker Books, Inc.

    DFD Purchasing System

    DFD Cash Disbursement System

    Walker Books Inc.


    Internal Control Weaknesses 1) A separate inventory control department should authorize purchases. 2) Receiving should use blind copy of the purchase order to force the clerk to count and inspect the goods upon arrival. 3) Accounts payable should perform a three-way match between the PO, Receiving Report, and the Supplier s Invoice. 4) The Accounts Payable Department should not write checks. 5) The invoice should not be destroyed. This is an audit trail issue. 6) Signing and distribution of the check is done without the benefit of supporting documents or a valid vendor file.

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