- Ensure payable and cash disbursements are properly authorized.
- Ensure recorded accounts payable balances are substantiated and evaluated.
- Ensure accounts payable records and cash disbursements are safeguarded.
- Are cash disbursement transactions reliably processed and reported?
- Ensure that the accounts payable system includes controls to minimize the risk of duplicate payments.
- Are adequate performance measures used to understand and control the accounts payable process?
- Test to ensure the company explicitly manages payment dates and terms.
- Does the company work with suppliers to establish mutually agreeable practices?
- Does the company continuously analyze money, quality and time costs needed for the accounts payable process with an eye toward reduction?
- Do the company’s policies and procedures include rigorous, pervasive policies to protect against disbursement fraud and overpayments?
- Does the company take advantage of technology-enabling electronic processing of accounts payable?