Final answer:
To deter kickback schemes, organizations should implement procedures like separating functions, tracking vendor purchases, and comparing prices to market rates. The correct option is d) All of the above.
Step-by-step explanation:
To deter kickback schemes, an organization should implement a series of procedures that ensure proper oversight and separation of powers within financial operations. Specifically:
- Separating the purchasing, authorizing, and cash disbursement functions ensures that no single individual has control over all aspects of a transaction, reducing the opportunity for fraudulent activity or collusion.
- By tracking purchase levels by vendor, an organization can identify unusual patterns or anomalies that could indicate preferential treatment or kickbacks.
- Comparing the prices paid for goods and services to market rates is another key procedure. This safeguards against overpaying as a result of collusion between staff and vendors.
When these strategies are combined, they create a comprehensive barrier against kickback schemes. Therefore, the correct option in the final answer to the question is d) All of the above.