For good internal control, which of the following functions should not be the responsibility of the treasurer's department?
A) Data processing.
B) Handling of cash.
C) Custody of securities.
D) Establishing credit policies.

Question

Quizplus · Accepted Answer

Responsibility for data processing should be separated from the treasurer's department to ensure proper segregation of duties and reduce the risk of errors or fraud. The treasurer's department can still provide input to data processing, but should not have direct control over it. Handling cash and custody of securities are typical responsibilities of the treasurer's department, and establishing credit policies may also fall within their purview.

For Good Internal Control, Which of the Following Functions Should