Minimizing Risks to Dubai's Business Expenditure Cycles: Control Objectives and Procedural Issues

Abstract

This study investigated the perceived threats and controls inherent in the expenditure cycle in the UAE business. A survey of one hundred UAE businesses was carried out. The findings showed a statistically significant positive relationship between the process of purchase approval, placing an order, receiving and storing goods, and issuing vendor invoice, and the general level of controlling threats to the procedures.The findings of the study formed a basis for the development of a model that uses more effectively the presently available accounting information systems for controlling more effectively organizations' accounting procedures to minimize threats to the expenditure cycle.