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Forensic audit finds generally adequate purchase‑card controls but recommends stricter limits and periodic reviews
Summary
A forensic review of six years of purchase-card and fuel transactions found improved controls since a 2024 policy update and Munis digitization, but noted historic gaps in dual approvals and occasional transactions exceeding prior limits; auditors recommended limiting cardholders, preset bank limits and routine audits.
Costa Chakrabarti, senior manager at iBailey’s forensic accounting group, presented a forensic review of city purchase‑card (P‑card) and fuel transactions from FY2019 through the present.
Chakrabarti said the team reviewed about 17,000 P‑card transactions totaling roughly $2.7 million over the period and performed a detailed sample of about 500 transactions with supporting documentation. He…
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