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Anti-Fraud Audit Template - Physical control procedures on checks

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FRAUD AREA: Physical Control Procedures on Checks.

CONTROL OBJECTIVE: Physical Controls to prevent, theft of checks and check tampering.

'FRAUD RISK: The company regularly issues a large number of checks to vendors, customer refunds and other stakeholders as part of regular day to day business. Physical tempering can go undetected if the organization do not tightly control issuance and storage process.

Check Theft and Control Procedures

FRAUD RISK: checks are security items and must be used carefully by the company. The banks are obliged to follow instructions written on the check. If the stolen check become undetected company can face significant losses.

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Standard (Non-IT) Audit Program

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