Which of the following illustrates the internal control procedure-separation of duties?
A) Cashiers must not have access to accounting records.
B) External auditors will monitor internal controls.
C) Electronic devices must be installed to reduce theft.
D) The invoices and other documents must be pre-numbered.

Question

Quizplus · Accepted Answer

Separation of duties requires that different individuals be responsible for different stages of a transaction. For example, cashiers should not have access to accounting records because they could manipulate those records to conceal theft or fraud. This serves as a safeguard against errors, fraud, or theft.

Which of the Following Illustrates the Internal Control Procedure-Separation of Duties