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Positive pay file submission

June 6, 2022
June 6, 2022

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Q. Our positive pay file transmission is currently split between finance and the IT department. IT runs the file and sends to finance for review/approval. We currently believe we have adequate controls around this process. Our IT staff would like us to take over the full transmission -- from creating the file to reviewing/approving it. Could that be perceived as a segregation of duties issue? A. (Answered by the IOFM Advisory Panel. We provide a cross section for consideration of different…

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