One Form of Accounts Payable Fraud Occurs When the Accounts

Multiple Choice

One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals a cheque made payable to a legitimate vendor.The purchaser's information is then resubmitted for payment and the second cheque sent to the vendor.How could such a theft be prevented?

A) Cancel supporting documents to prevent their being re-used.
B) Make sure that all payments are supported by valid documents.
C) Reconcile the transaction files to the accounts payable master file.
D) Have receiving reports authorized independently.