1.Segregation of the purchasing, receiving, and cash disbursements functions 2.Purchasing can only make acquisitions from a preapproved 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 preapproved 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 database with the general ledger 10.Independent reconciliation of the monthly bank statements 11.Independent review of financial statement disclosures related to acquisitions and cash disbursements.

Answer rating: 100% (QA)

These are internal controls commonly used to mitigate risks associated with purchasing receiving and cash disbursements functions within an organizati... View the full answer