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AUDIT UNIT TOP 5 PURCHASE CARD AUDIT ISSUES AND FRAUD CONTRIBUTORS
We are pleased as the OMES Audit Unit, to publish a list of common non-compliances and misconceptions that are discovered during our purchase card audits. We have also added fraud contributors to help administrators avoid situations that may contribute to purchase card fraud. This information is published for the accessibility and usability of agencies involved or interested in the purchase card program.
Stated in order of significance and most commonly discovered:
Purchase Card Fraud Contributors
1. Lack of segregation of duties is the single greatest contributor to purchase card fraud in the State of Oklahoma Purchase Card program.
2. Missing receipts to support the purchase.
3. Lack of approving official reviewing monthly memo statements and transaction documentation.