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What controls would be needed to detect errors posted to the purchase ledger?

THIS QUESTION IS ABOUT THE EVALUATION OF CONTROLS FOR PURCHASES AND CREDITORS. IT IS BASICALLY ABOUT ACCURACY AND HOW PURCHASES CAN BE WRONGLY STATED.

Public Comments

  1. Run a query from the purchase ledger it will detect any mistakes entered.
  2. One of the most basic things you can do is to check that the balances agree with the supplier statements that the suppliers send in to you and investigate any differences, also any purchase orders should be approved by management, my auditing text books always harp on about having as many different people involved in the process as possible, this reduces the chance of one persons error not being detected or fraud.
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