RubinBrown Team Member Manual

POLICY CONTINUED Policy Title: Policy Number:

Section: Client Cash Disbursement Policy 1216

Risk Management

Receipt of Mail 8. The engagement personnel responsible for opening all mail received directly to the office or received to a post office box will not have other incompatible job duties. Each engagement team member’s specific duties will be evaluated for incompatible duties. 9. Engagement personnel opening mail must stamp each invoice with a “Received” stamp, which lists the date that it was received, and also initial each invoice next to the stamp. Approval of Invoices 10. All invoices must be approved by the client or other authorized client agent before they are recorded in QuickBooks, Quicken, or other designated financial software. 11. Approval of invoices must be evidenced by signature or initials, and date. Emails specifying the invoices approved for processing may be utilized if sent directly from the client or authorized agent. 12. All source documentation must be stamped “received” and specify the date received. 13. All source documentation must be retained and filed in the respective client file. If the client has specifically requested for the documentation to be sent back to them, then the invoice will be scanned by the service line's executive assistant (segregation of duties) and stored on the firm’s network. Disbursement Authorizations and Check Writing 14. Personnel other than the engagement accountant, engagement manager, or engagement partner should maintain physical security of the check stock. Typically, the service line or engagement partner's executive assistant maintains the check stock. 15. All checks must be signed by the engagement partner or engagement manager based on the internal controls in place, maintaining proper segregation of incompatible duties, etc. 16. A copy of the checks or check stubs must be attached to the related invoice. 17. Each invoice will be stamped “PAID” when the payments are processed so that the invoices are cancelled and cannot be processed and paid in duplicate. 18. The disbursement packet must be retained by RubinBrown. If the original is to be returned to the client then a hard copy or scanned copy should be created and stored in the appropriate location. 19. The checks will be stuffed, stamped, and sent to the appropriate vendor by the designated executive assistant again due to segregation of duties. Wire Transfers and ACHs 20.Wire transfers and ACH transactions must be initiated and authorized by separate engagement personnel. 21.Engagement personnel responsible for generating wire transfer requests will use a standardized form and provide supporting documentation for the wire/ACH.

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