14-36 Integrated Case Application - Pinnacle Manufacturing: Part V Key Existing Control (a.) Transaction-Related Audit Objective (b.) Tests of Controls (c.) Substantive Tests of Transactions (d.) 1. Segregation of the purchasing, receiving and cash disbursements functions 2. Purchasing can only make acquisitions from a pre-approved vendor list 3. Use of prenumbered voucher packages, properly accounted for 4. Use of prenumbered checks, properly accounted for 5. Use of prenumbered receiving reports, properly accounted for 6. Internal verification of document package, including comparison to pre-approved vendor list, before check preparation 7. Review of supporting documents and signing of checks by an independent, authorized person 8. Cancellation of documents prior to signing of the check 9. Monthly reconciliation of the accounts payable master file with the general ledger