Text of Recommendation | Document the accounts payable accrual methodology to include the recognition and reporting of the incurred but not reported. The methodology should also document key controls related to review and approval process of the accrual estimation; materiality and how it is applied; reviewing, approving, and recording of invoices prior to processing payments; inputs to be used in the validation; consideration of payment types; and the basis for including or excluding typical factors in estimating accruals, such as period of performance, type of contract, billing patterns, and others. (modified repeat) |
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Recommendation Number | 35 |
Recommendation Status | Closed |
Recommendation Questioned Costs | $0 |
Recommendation Funds for Better Use | $0 |
Submitting OIG | |
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Linked Report |