One internal control safeguard is to assign all the duties of receiving, depositing, and recording cash to one employee.

Question

Quizplus · Accepted Answer

Assigning all cash handling duties to one employee creates an opportunity for theft or fraud. It is recommended to have a separation of duties where different employees handle different aspects of cash handling to prevent any individual from having too much control or access to cash.

One Internal Control Safeguard Is to Assign All the Duties