The employee who processes cash payments should have nothing to do with the approval process. This is a part of which characteristic of internal control?
A)separation of duties
B)assignment of responsibilities
C)proper authorization
D)competent, reliable, and ethical personnel

Question

Quizplus · Accepted Answer

Separation of duties is a key characteristic of internal control that involves dividing responsibilities among different people to reduce the risk of error or fraud. This includes ensuring that the person who processes cash payments is not the same person who approves these payments, to prevent any potential conflict of interest or misuse of funds.

The Employee Who Processes Cash Payments Should Have Nothing to Do