Process Design Stream Risk Title
Account for Invoices Key (Non Financial Reporting) Posting delays
Account for Invoices Key (Non Financial Reporting) Invoice without PO (Payments)
Account for Invoices Financial Duplicate Invoice
Account for Invoices Financial Posting errors
Account for Invoices Financial Tax Codes
Account for Invoices Financial GR/IR Discrepancies
Account for Invoices Financial Invoice without PO (Invoice Posting)
Manage Payables Key (Non Financial Reporting) Late payments
Manage Payables Financial Unreceived invoice payments
Manage Payables Financial Unrecognized liabilities
Manage Supplier Master and CKey (Non Financial Reporting) VMD Fraud
Raise Purchase Order Key (Non Financial Reporting) Unauthorized orders
Raise Purchase Order Financial Erroneous orders
Raise Purchase Order Financial Unauthorized vendor in PO
Receive Goods or Services Financial Unrecorded receipts
Risk Description
Invoices are not processed on a timely basis,
Payments can be made where invoices or payme
Duplicate invoices are processed resulting in
Invoices are entered against wrong supplier
Over or understatement of VAT/GST liability. Th
Significant differences between goods received
Vendor issued invoices are not recorded again
Late payments, poor performance with supplier
Payments made but no goods/services receiv
Inaccurate or incomplete statement of liabiliti
Unauthorised creation or updates to the suppl
Unauthorised orders may be placed with suppli
Inaccurate orders are placed with suppliers re
Orders are placed with unauthorised or nonexi
Goods and services received are not recorded,
Control Objective
To ensure that all invoices are recorded timely and accurately
To ensure that all invoices without PO are validated before getting paid
To ensure that an invoice is not processed/paid more than once
To ensure that all invoices are paid to the right vendor
To ensure that all appropriate tax treatment is used in processing invoices
To ensure that all invoices with discrepancies with goods received are flagged and resolved before getting paid
To ensure that all the correct GL accounts are used in recording expenses for invoices without PO
To ensure that invoice are paid on time and/or early payment discounts are taken
To ensure that the invoice not received are flagged and investigated before further processed for payment
To ensure that all expenses incurred are recorded at the right accounting period
To ensure that supplier and contract master/standing data held on the system is accurate and valid and that only approved up
To ensure that only valid, accurate authorised purchase orders are raised for goods and/or services
To ensure that only valid, accurate authorised purchase orders are raised for goods and/or services
To ensure that only valid vendor accounts are used in POs
To ensure that goods and/or services are received and timely/accurately recorded
re getting paid
alid and that only approved updates are made