Having only one person authorized to both prepare and sign checks is a violation of what internal control procedure?

Question

Quizplus · Accepted Answer

Segregation of duties requires that different individuals should be responsible for different aspects of a transaction, such as the authorization, recording, and custody of assets. Allowing only one person to prepare and sign checks violates this internal control procedure by combining the tasks of authorization and custodianship, increasing the risk of fraud or errors.

Having Only One Person Authorized to Both Prepare and Sign