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David, Signature stamps are generally use for signing checks and the basic principle is that the signature stamp should be kept in a secure location and tightly controlled. In the scenario you described it would be similar in that if someone were to gain access to the signature stamp they could affix the signature to a false time report. The result would be a fraudulent payment that was allowed using an improperly controlled signature stamp. Authorization and approval is a key internal control and must be handled in an appropriate manner. The control and use of signature stamps must be handled accordingly. Following is a policy from a state university: Signature Stamp Policy An authorized signature provides key internal control, providing the official signature means the supervisor has examined and approved a transaction. In all instances of authorization of funds or compensation (i.e. employee travel reimbursement, purchase approval, timesheets, etc.) the use of signature stamps will not be permitted to replace a manual signature of an employee." At 09:51 AM 8/15/02 -0400, Carlsen, David wrote: >Regarding stamped signatures, we have someone that has been using their's >to approve items such as timesheets. I'm looking for specific guidance >regarding these scenarios. I know it's not a wise practice from a control >perspective. I just prefer some guidance support. Has anyone dealt with >this? > >Regards, >David Audit Leverage is a department management software package that integrates and automates the entire audit process. This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up. Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body: Unsubscribe audit-l (yourname) Thanks, Jim Kaplan List Manager
