Segregation of duties suggests separating all of the following from each other except:
A) Custody of assets
B) Authorization of the use of the assets
C) Recordkeeping
D) Use of the assets

Question

Quizplus · Accepted Answer

Segregation of duties is a key internal control that aims to prevent fraud and errors. This principle dictates that the responsibilities of authorizing transactions (B), holding custody of assets (A), and recordkeeping (C) should be divided among different individuals. The use of the assets (D) does not directly relate to the internal control principle of segregation of duties, which is more about the separation of transaction approval, custody, and recording to prevent errors and fraud.

Segregation of Duties Suggests Separating All of the Following from Each