Improper financial processes highlighted by AP audit report

The city of Dallas, Texas, has landed itself in hot water after a recent accounts payable audit revealed that many of the recommendations that were included in two past audit reports have not been implemented. Dallas city auditor has said that failing to make changes could lead to large fiscal losses for the region.

The most recent report discovered that at least 69 percent of the suggestions that were given with the past audits have not been taken into consideration, according to The Dallas Morning News. The recommendations were for City Hall and its various departments, as investigators had previously found that there were several instances of not only financial noncompliance, but poor information technology and data management policies as well.

A lack of checks and balances within Dallas' city controller's office was highlighted by past audits, as it was revealed that department staff members are allowed to approve and process payments that total $150,000 or more without review from senior personnel. A recommendation was made to implement stronger control over this practice, but it seems as though no changes have been made, the news source reports.

Organizations and businesses of all sizes can conduct accounts payable audits to uncover any evidence of financial misappropriation.

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