Internal Control Questionnaires and Verification Procedures

Documentation

1. Are terms, dates, weights, description of merchandise, etc., shown on invoices, shipping documents, delivery receipts, and bills of lading scrutinized for differences with those detailed in the letters of credit instruments?

2. Are procedures in effect to determine if:

   1. The above documents are signed when required?

   2. The officer who signed the original letter of credit initials all copies of letters of credit?

   3. An officer approves all amendments to letters of credit?

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