An organisation determines that any check for an amount greater than $5 000 must require approval from the controller. This is an example of:
A)segregation of duties.
B)approval authority.
C)rotating key jobs.
D)reconciling the bank statement.

Question

Quizplus · Accepted Answer

This policy is an example of approval authority, where a specific level of management or an individual is required to approve transactions above a certain amount.

An Organisation Determines That Any Check for an Amount Greater