Question

Which of the following actions is least likely to help prevent and detect schemes involving fraudulent invoices from non-accomplice vendors? a. Marking "paid" on every voucher that has been paid b. Verifying vendor address changes before disbursements are issued c. Matching all bank statement items to canceled checks d. Separating the duties of purchasing, authorizing, and distributing payments

Answer 1

C

Step-by-step explanation:

Billing scheme is an act of using false documentation to effect fraudulent payment for transaction that did not exist. One common way of doing this is through the creation of fictitious companies.

The options listed in the question are effective in mitigating this except matching all bank statements to canceled check.

This scheme deals more with false procurement and payment of the invoices , therefore it has nothing doing with canceled check and bank statements.

Answer 2

Answer: C. Matching all bank statement items to canceled checks.

Explanation: To help prevent and detect schemes involving fraudulent invoice and non accomplice vendors, matching all bank statement items to canceled checks is the right option to go with.

This action have proved to be effective and to at least prevent fraudulent invoice by vendors.