Significant Risks of Account Payable Clerk's Direct Access to Payment File

D.

The MOST significant risk to the organization with the accounts payable clerk having direct access to the payment file after it has been generated is that payments may be altered.

With direct access to the payment file, the accounts payable clerk can modify payment details, such as payment amount or recipient information, without being detected. This can result in fraudulent activities such as unauthorized payments, overpayments, and payments made to fictitious vendors.

Altering payment details can also lead to a loss of funds, which can affect the organization's financial statements and reputation. In addition, it can impact relationships with suppliers, customers, and other stakeholders.

While the other options, such as payments being rejected, duplicated, or late to customers, can also be significant risks, they do not pose as high of a threat as altered payments. It is important for the organization to implement controls to prevent unauthorized access and ensure the integrity of payment files.