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last updated: 2nd August 2011

A master list of names of staff with authority to commit and approve the spending of funds should be held centrally in either the Procurement Office or the Finance Department where data will be held for other finance-related activities such as approval of petty cash, journal transfers etc.

The master list may be held in hard copy although it may be easier to access basic information if it is in an electronic format such as a spreadsheet or in a database.  An electronic version can contain the summary information and enable the cross-referencing of individual members of staff with Cost Centres and their personal monetary approval level.  There should be a separate hard-copy index box containing the sample signature cards of all staff named within the database.  This will enable the random physical checking of signatures by members of the Finance Department and auditors.
 

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