Even our CEO/President had a “spending limit” without approval. I am sure it was higher than my $2,000... But it sure as hell was a or less than $500,000 without a co-sign of the CFO. And if the deal was THAT big and important, the person signing off on the wire would know about it.
I know it’s the 21st century, but has everyone forgotten what financial “controls” are?
Not at my company.
I suspect that as companies trimmed staff the controls requiring input from multiple people have fallen by the wayside. Many of the controls in terms of segregation of duties collapse as companies contract.