Implementing Maker-Checker Controls: Fraud Prevention and Segregation of Duties in Accounts Payable

The Four-Eyes Principle in Corporate Governance

Corporate financial fraud almost always exploits a lack of Segregation of Duties (SoD)—where a single employee has the authority to both add a new vendor bank account and approve payment disbursements. The 'Maker-Checker' (or Four-Eyes) principle mandates that no high-risk transaction can be initiated and finalized by the same person.

Configuring Dual-Control Approval Gates

1. Maker: An A/P clerk enters the vendor bill or proposes a vendor refund.
2. Validator: An accounting supervisor verifies tax codes and 3-way matching.
3. Checker: The Finance Director provides cryptographic digital approval before bank disbursement.

Relaso Enterprise Suite provides customizable Maker-Checker approval matrices with immutable audit trails to safeguard corporate funds.