I am new to Procurement and Purchasing, and trying to get my head around potential fraud risks within both iProcurement and Oracle Purchasing.
I was doing some reading of matching approvals within the Oracle Purchasing app, the narrative of this document mentioned 2way, 3way, 4way approval requirements... what do these mean?? What is 2way, 3way, 4way approval requirements in Oracle Purchasing?
Are there any controls in Oracle Purchasing that prevent a user from overiding the matching approval requirements (2way, 3way, 4way) etc as I have also read in the purchase order form buyers can overide these approval requirements (2way, 3way, 4way) etc, is this true? Is there anyway to mitigate this risk? I guess you could do manual reviews but is there anything that could be done in the System? Why are matching approvals important?