1.

A pre-numbered bank transfer demand is included with all payments prepared by the
clerk:

(a) prevent and detect payment non-recording

(b) accounts payable (and related expense/asset) thoroughness (ensure all payments are
recorded) (ensure all payments are recorded)

(c) do a sequence check to ensure that all pre-numbered bank transfer requisitions have
been recorded.

2. The bank transfer requirement requires the clerk to acknowledge that the following
processes were followed for each payment:

• verified that the invoice's additions and pricing are correct;

• confirmed that the invoice's data have been matched to a delivery note by the
warehousing department; and

• verified that a valid purchase order exists for the products.

(a) To prevent unauthorized access to company funds (fraud/theft) by ensuring that

payments are only paid for products acquired and ordered by the company and that the
right amount is documented.

(b) Expense/asset—occurrence and correctness in connection to the expense or existence

and accuracy, value and allocation

(c) Examine a sample of bank transfer requisitions to confirm that all procedures are
followed. Re-run checks on a subset of requisitions.

3 The clerk transmits the bank transfer requisition to the CFO for approval, together with
any supporting documentation (invoice and any other necessary correspondence):

(a) to prevent unauthorized access to corporate funds (fraud/theft) by ensuring that all
payments are approved by a suitable company official; (b) to prevent errors in accounting
entries and information uploaded as the approver additionally examines the details.

(b) expense/asset—occurrence and correctness in relation to the expense or existence and

accuracy, valuation and allocation

(c) examine a sample of bank transfer requisitions to confirm that all contain proof of
approval.