Who should be responsible for preparing the bank reconciliation?

Question

Quizplus · Accepted Answer

A person who is not involved in the day-to-day banking activities should prepare the bank reconciliation. This helps to ensure that any errors or discrepancies can be identified by an independent party and corrected promptly. It also helps to prevent fraud or other irregularities by maintaining a separation of duties between those who handle financial transactions and those who reconcile bank statements.

Who Should Be Responsible for Preparing the Bank Reconciliation