[AJE]

For example, they paid out 100k and it has the signature of CFO/CEO on it manually. Do most companies (private/government etc) keep a copy of this (or have a way to access this)? Didn’t understand what someone just told me about why they don’t have that.

FAR 91 - 04/16
BEC 87 - 05/15
REG 77 - 07/27
AUD 92 - 08/31

[Missy]

I don't keep copies of signed checks. If they're cashed my bank has copies, if not a copy of a signed check means nothing.

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

A copy of the actual check? No, not necessarily. At my employer, we have 3-part check stock, so one part is check, and 2 parts are check stub. Both check stubs have the check info (vendor, amount, date, check number, etc.), and also have additional remittance info. We keep one check stub and send the other with the check to the vendor. We don't keep a copy of the check, though the check stub has the check info on it.

A cleared check through the bank would provide a copy of the check itself, but a check which hadn't cleared wouldn't have a check copy.

Did prior year workpapers have check copies for all checks? If so, it could be that the client's standard practice is to keep copies, but something happened that caused the copies of that group of checks to be lose. If they still have or can provide record of the checks, then especially if you can check this against cleared check copies through the bank, that should be sufficient (maybe not every one of the checks, if their statements don't include check images – maybe just pick 5 out of the batch to get check image copies from the bank to verify or something like that).

[Author]

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