Financial Reconciliation and Debit Cards Policy

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What is the procedure for opening Mobile Money Accounts for supported sites according to the text?

PIHL will share the names of account preparers and approvers with the mobile money service providers. (correct)

Serenic will set the access rights for the mobile money accounts.

The site directors will be responsible for opening the accounts with the mobile money service providers.

The Finance Director will facilitate the opening of the accounts directly with the mobile money service providers.

What is a key internal control measure mentioned for mobile money accounts in the text?

Different individuals should handle payment creation and payment approval roles. (correct)

The single beneficiary payment limit is LSL1,000.

Sites' Mobile Money payments are approved by the same person creating the payments.

The Finance Director creates and approves payments in the same mobile money account.

Who is responsible for setting access rights to mobile money platforms according to the text?

Account Preparers

Finance Director (correct)

Serenic

Site Directors

What is the maximum limit for all Mobile Money payments to a single beneficiary as per the text?

LSL1,500 Signup and view all the answers

Who should approve a Mobile Money payment if it exceeds the single beneficiary payment limit?

Finance Director Signup and view all the answers

Why is it important to segregate roles of creating and approving payments in mobile money accounts?

To prevent fraud and errors Signup and view all the answers

What is the maximum number of debit cards that can be maintained at any given point in time?

Three Signup and view all the answers

Who is responsible for filling out the Debit Card Request Form?

Procurement Manager Signup and view all the answers

What is required for the bank to provide a debit card after approval?

A signed letter of instruction Signup and view all the answers

When should cardholders sign the 'Debit Card Receipt Acknowledgement' form?

After receiving the debit card Signup and view all the answers

Under what criterion should debit cards be used according to the text?

Emergency Expenditures Signup and view all the answers

Who should utilize the debit cards according to Section 9?

Procurement Unit Signup and view all the answers

Who should not be responsible for reconciling mobile money account statements?

Accounting Officer Signup and view all the answers

Which individual should not be involved in both making bank deposits and reconciling bank statements?

Accountant Signup and view all the answers

Who should not be responsible for approving vendor payments and setting up new vendor accounts?

Finance Analyst Signup and view all the answers

Which individual should not calculate, disburse, or make changes to payroll, according to the text?

Finance Director Signup and view all the answers

Who should not be involved in processing vendor payments and approving those payments?

Payroll Coordinator Signup and view all the answers

Which individual should not be responsible for adding new vendors and approving vendor payments?

Coordinator Signup and view all the answers