Proper separation of duties is useful to prevent various types of misstatements.Which one of the following is NOT an essential separation of duties?
A) Persons having access to cash should not have access to marketable securities.
B) Anyone responsible for inputting sales and cash receipts transactions information into the computer should be denied access to cash.
C) Personnel doing internal comparisons should be independent of those entering the original data.
D) Separate the credit-granting function from the sales function.

Question

Quizplus · Accepted Answer

Separating access between cash and marketable securities does not directly address a fundamental principle of separation of duties aimed at preventing misstatements or fraud. Essential separations typically involve segregating authorization, custody, and record-keeping roles to mitigate risks of errors or fraudulent activities.

Proper Separation of Duties Is Useful to Prevent Various Types