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Fashion Forward, a clothing distributor, wants to ensure it has strong information system controls over...

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Accounting

Fashion Forward, a clothing distributor, wants to ensure it has strong information system controls over the purchasing and payables cycle. Which of the following should be implemented?

A. The same person should do the buying and the receiving; however, that person should not have access to the accounting records to ensure appropriate segregation of duties.

B. Only accept requisitions against the account code entered by all employees who have identified that goods are needed.

C. There should be a periodic check of invoices where no goods have been received.

D. The computer should check the requisition against the inventory master file to confirm that the re-order point has been reached.

E. Orders placed for supplies not on the approved list should be accepted if they are needed.

F. Receiving should enter the details of goods received on the computer against the order.

G. Details of invoices should be entered into the computer on receipt, and the computer will match the invoice with the purchase order. Once matched, payment should be processed.

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