What control should be put in place that assigns responsibility for EFT payments made to vendors?

Question

Quizplus · Accepted Answer

Assigning responsibility for EFT payments to vendors should involve establishing a control group to monitor EFT transactions for validity and accuracy. This control group can help ensure that EFT payments are properly authorized and recorded, minimizing the risk of fraud or errors. Encryption, time-stamping, and numbering of EFT transactions can also be useful controls, but they do not specifically address the issue of assigning responsibility for EFT payments to vendors.

What Control Should Be Put in Place That Assigns Responsibility