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#1493579 - 01/11/11 10:42 PM Check Limits
one auditor Offline
100 Club
Joined: Apr 2004
Posts: 104
Midwest
I am examining the limits of authorized check signers and have discovered some have unlimited approval authority. This concerns me as no employee, in my opinion, should have unlimited authority. I would be interested in what others think on this and how to place limits, i.e, controls for secondary approvals, on employees such as the CEO, and others who have this blanket authority. Thank you.

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Audit
#1540902 - 04/26/11 05:05 PM Re: Check Limits one auditor
MTW75 Offline
Member
Joined: Apr 2007
Posts: 64
Lexington, Kentucky
My preference is to require dual signatures. You will get some resistence to this from locations with limited staff, so threshholds are sometimes necessary (dual signatures required on all checks greater than $10,000, for example).
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#1541003 - 04/26/11 05:57 PM Re: Check Limits MTW75
RBanker Offline
Power Poster
RBanker
Joined: Jul 2003
Posts: 2,675
Austin Texas
No one here has unlimited authority - if the check amount exceeds the highest limit option, it requires two officers of the bank to sign.
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#1541196 - 04/26/11 08:32 PM Re: Check Limits RBanker
Happy Drugs Offline
Platinum Poster
Happy Drugs
Joined: Feb 2007
Posts: 597
Central Texas
We have certain officers who are authorized to sign, then once it hits 25,000.00 or great it requires to officers signatures. We do not allow our loan officers or loan assistants who may have an officer title authorization because they produce so many checks for loan customers!! Our president cannot sign because he is also a loan officer. We keep it pretty tight on them.
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