Many frauds can be avoided with strong controls over the vendor master files, determining the appropriateness of support for payments to vendors before recording a liability (voucher), and the willingness to dispute inappropriate items with vendors.

Question

Quizplus · Accepted Answer

This statement is true. Strong controls over vendor master files, pre-approval of payments, and willingness to dispute inappropriate items can help prevent many instances of fraud.

Many Frauds Can Be Avoided with Strong Controls Over the Vendor