Classify common finance controls by the risk response they provide.
Sort each finance activity by its primary control purpose. Authorization Reconciliation Segregation or safeguarding Monitoring Department head approves purchase order before the order is released. System blocks requisition when appropriation is unavailable. Cash ledger is compared to bank statement and reconciling items are resolved. Grant receivable schedule is tied to reimbursement portal draws monthly. Cash drawer count requires two employees and a signed count sheet. ERP administrator access is limited and reviewed against job roles. Controller reviews quarterly late-reconciliation trends and assigns corrective action. Audit findings are tracked monthly until evidence shows remediation is complete.
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