To maintain good internal control procedures, the person filing a purchase requisition should not approve the payment.

Name: To maintain good internal control procedures, the person filing a purchase requisition should not approve the payment.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

Separation of duties is a key principle of internal control that reduces the risk of errors or fraud. The person who requests a purchase (filing a purchase requisition) should not be the same person who approves the payment, to ensure checks and balances.

To Maintain Good Internal Control Procedures, the Person Filing a Purchase