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Having different individuals receive cash, record cash receipts, and hold the cash is an example of what?

A. establishment of responsibility.

B. segregation of duties.

C. documentation procedures.

D. independent internal verification.

Accounting Financial Accounting Finance
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Question added by Sultan Alghamdi
Date Posted: 2016/02/19
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emeke Kelvin akpati
by emeke Kelvin akpati , Internal Auditor , HONEYWELL GROUP/ANCHORAGE LEISURE’S LIMITED COMPANY (RADISSON BLU ANCHORAGE HOTEL)

B. Segregation of duties. Accounting controls recommend that duties should be separated so that chances of fraud are reduced.

MUHAMMAD ETIMAD SYED
by MUHAMMAD ETIMAD SYED , Senior Financial Accountant , TA'AZ Group of Companies

It will be considered as segregation of duties. Option B is correct

Md. Shahrier Aswad
by Md. Shahrier Aswad , Accounts Officer, Finance & Accounts Department , Center for the Rehabilitaion of the Paralysed (CRP)

Segregation of Duties to Strengthen Internal Control System of Accounting.

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