Who should be responsible for preparing the bank reconciliation?

Question

Quizplus · Accepted Answer

A person not involved in the day-to-day banking activities should be responsible for preparing the bank reconciliation. This ensures that there is an independent check on the accuracy of the bank statement and the accounting records. It also helps to prevent any errors or fraud that may be committed by the person who is responsible for making deposits or writing cheques.

Who Should Be Responsible for Preparing the Bank Reconciliation