Segregation of duties
The person who approves a payment should not be the one who records or releases it. Even in small teams, split these roles or add a second review.
Practical controls
- Two-person approval for payments above a set limit.
- Monthly bank reconciliation reviewed by someone else.
- Access rights reviewed every quarter.
Be audit-ready
Keep supporting documents linked to each entry, maintain a change log, and keep a short list of open items ready for auditors.
