The cash disbursements process is the process through which cash is spent and expenditures made
Typically cash is disbursed to vendors, service providers, employees and tax authorities
Cash can be disbursed via cash, cheque, e-transfer
Different process would be followed for each situation
Risks:
Cash is disbursed for an inappropriate purpose
Theft
Inappropriate expenditure
Duplicate expenditures
Cash disbursement is inaccurately recorded, or not recorded
Process through which cash is spent and expenditures are made
-Disbursed to vendors, service providers, employees and tax authorities
Qs: Again, what are the risks we can think of associated with the cash disbursements process?
Qs: Any idea what types of controls could be used to mitigate these risks? Think about the example we looked at in our fraud module