The most common deficiency in audit trails in the purchasing process is postings from the cash disbursements transaction file.

Question

Quizplus · Accepted Answer

The most common deficiency in audit trails in the purchasing process is often the lack of documentation or inadequate documentation for the transactions, not specifically postings from the cash disbursements transaction file. Audit trails should clearly show the path from the initial purchase request through to the payment of the invoice, including approvals, receipt of goods, and matching of purchase orders with invoices.

The Most Common Deficiency in Audit Trails in the Purchasing