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Review of Purchasing Card Transactions

Review of Purchasing Card Transactions. 1 st Quarter-2011. Tests of Purchase Card Transactions. Financial Services *Review statements to ensure documentation and signatures are included *Select sample of transactions for verification

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Review of Purchasing Card Transactions

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  1. Review of Purchasing Card Transactions 1st Quarter-2011

  2. Tests of Purchase Card Transactions Financial Services *Review statements to ensure documentation and signatures are included *Select sample of transactions for verification *Select sample of transactions for comparison to information received directly from vendor Internal Audit *Audit of transactions in conjunction with department audits *Use audit analytic software to detect questionable transactions

  3. Top Ten Vendors

  4. Top Ten Vendors

  5. Example of Fraudulent Activity

  6. What do these transactions have in common?

  7. Sunday Transactions

  8. Elder L. Tom Perry To keep ourselves unspotted from the world, He expects us to avoid such worldly distractions of businesses and recreational facilities on the Sabbath day. Sometimes we think of resting from our labors as merely letting the hay baler stand idle in the field or putting a Closed sign on the business door. Yet in today’s world, labor includes the everyday work of our lives. This could mean business activities we may accomplish from home, athletic competitions, and other pursuits that take us away from Sabbath day worship and the opportunity to minister to others. (April 2011 General Conference, highlight added)

  9. Split Transactions • The Purchase Card Policy States: The dollar limit is $1,000 per transaction and $3,000 per month unless otherwise approved by the cardholder's supervisor, vice president, and the Director of Financial Services.  Please be aware that trying to pay for one item with two transactions to supersede this limit, referred to as "splitting", is a violation of this policy.

  10. Examples

  11. Conclusion • Be aware of what is being purchased. • Help those in your area be aware of reviews being done. • Ask questions so cardholders know you’re actually reviewing the statements. • Ask for help if you have a concern.

  12. Questions?

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