Question: Case Study: Common Accounts Payable Risks And How To Mitigate Them Part of the internal fraud options includes risks relating to payment by cheques as

Case Study: Common Accounts Payable Risks And How

Case Study: Common Accounts Payable Risks And How To Mitigate Them

Part of the internal fraud options includes risks relating to payment by cheques as stated in the case study. According to SA3RIC (2021), cheque fraud is not as prevalent as they once were. Advances in banking and the digitisation of the processes helped to mitigate this risk. However, this is still prevalent today. According to CCCC (2021) which is part of Part of Pay. uk highlights three main types of cheque fraud namely Counterfeit, Forgery and Fraudulently alteration. 4.1 Discuss the various document records that are necessary during cheque payments \& recoding (5 marks) cycle? 4.2 Using examples discuss the risks associated with cheque payments? (5 marks) 4.3 Using examples discuss the control activities associated with cheque payments? (15 marks)

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