Authorities for Transaction and Payment approval should understand that the authority carries responsibility and that they are accountable for their actions. They are free to investigate as necessary to satisfy themselves that transaction and payment approval is correct and appropriate. It is also understood that if they cannot accept full responsibility, the items should be passed to a higher level for approval. An Approval Authority caries responsibility for the transaction but Transaction Authority continues to retain accountability and responsibility for any actions, proposals, representations, agreements, commitments, etc. relating to transactions. Certain payments that result from agreements, contract, lease, bank agreements and governmental obligations.
