Purchase Card Audit Issues and Fraud Contributors
The following is a list of common areas of non-compliance and misconceptions that are discovered during purchase card audits, as well as a list of fraud contributors. These lists are designed to help administrators avoid situations that may contribute to purchase card fraud. This information is published for State of Oklahoma entities involved or interested in the purchase card program.
Purchase Card Audit Issues (Stated in order of significance and most commonly discovered)
- All receipts shall be obtained for all purchases. The receipt shall give an itemized and detailed description of the purchase
- The approving official must have attended the purchase card training and is at least one level higher than cardholder's position in the organization
- Lodging transactions should not exceed the approved limit. Non-designated logging is limited to the federal GSA rate.
P-Card Fraud Contributors
- Lack of segregation of duties is the single greatest contributor to P-Card fraud in the State of Oklahoma P-Card program
- Missing receipts to support the purchase
- Lack of approving official reviewing monthly memo statements and transaction documentation