Proper segregation of functional responsibilities calls for separation of the functions of:
A) authorisation, payment, and recording.
B) custody, execution, and reporting.
C) authorisation, recording, and custody.
D) authorisation, execution, and payment.

Question

Quizplus · Accepted Answer

The correct answer is C) authorisation, recording, and custody. This segregation ensures that no single individual has control over all aspects of any financial transaction, reducing the risk of errors or fraud.

Proper Segregation of Functional Responsibilities Calls for Separation of the Functions