@daudakabia: # 🔍 AUDIT IN 60 SECONDS ## 🧾 RECEIPT OR REAL TRANSACTION? **Does having a receipt prove that an expense actually happened?** **Not necessarily!** A receipt is only **one piece of audit evidence**. An internal auditor should verify whether the transaction is genuine, properly authorised, and accurately recorded. 🔎 **WHAT SHOULD AN AUDITOR CHECK?** ✅ **Supplier** – Is the supplier genuine and identifiable? ✅ **Date & Amount** – Do they agree with the accounting records? ✅ **Purpose** – Was the expense necessary and related to organisational activities? ✅ **Approval** – Was it properly authorised according to policy? ✅ **Goods/Services Received** – Is there evidence that the organisation actually received what it paid for? ✅ **Accounting Treatment** – Was the transaction correctly recorded in the appropriate account and period? 🚨 **AUDIT RED FLAG:** A genuine-looking receipt can still support a **false, inflated, duplicated, or unauthorised transaction**. ### 💡 AUDIT LESSON **“Don't audit the receipt alone—audit the transaction behind the receipt.”** ### ❓ QUESTION FOR YOU: **If you were the auditor, what additional evidence would you request to confirm that the expense was genuine?** 👇 **Share your answer in the comments.** **PREPARED BY: DAUDA KABIA** **SENIOR INTERNAL AUDITOR** #compliance #SierraLeone #audit #InternalControls
