One of the best practices to prevent fraud is to implement a process of multi-level approval.When handling a company's assets,the work of managers and employees needs to be subject to approval or authorization.This practice is called ___________.
A)Job rotation
B)Segregation of duties
C)Safeguarding of assets
D)Safeguarding of duties

Question

Quizplus · Accepted Answer

Segregation of duties is the practice of dividing responsibilities for a process or task among different people to reduce the risk of fraud. It involves ensuring that no one person has complete control over a transaction or process, and that multiple levels of approval are required. By implementing this practice, a company can prevent employees from committing fraud by making it more difficult for them to bypass controls or manipulate records. Job rotation and safeguarding of assets and duties are also important practices for preventing fraud, but multi-level approval through segregation of duties is specifically mentioned as the best practice in this question.

One of the Best Practices to Prevent Fraud Is to Implement