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Reporting & leadership
Controls and audit readiness
The approvals, separations of duty, and reconciliations that stop errors and fraud, and the documentation that lets an auditor or acquirer trust the numbers.
Owned by: Manager / DirectorTest band: Manager / Director
In practice
Two signatures on payments and a monthly bank reconciliation someone other than the bookkeeper reviews prevent most of what goes wrong.
The kind of thing the test asks
- The single control that prevents most small-business fraud is…