In meeting the control objective of safeguarding of assets, which department should be responsible for distribution of paychecks and custody of unclaimed paychecks, respectively?
A)Treasurer is responsible for distribution of paychecks and for custody of unclaimed paychecks.
B)Payroll is responsible for distribution of paychecks and treasurer for custody of unclaimed paychecks.
C)Treasurer is responsible for distribution of paychecks and payroll for custody of unclaimed paychecks.
D)Payroll is responsible for distribution of paychecks and for custody of unclaimed paychecks.

Question

Quizplus · Accepted Answer

The treasurer should be responsible for both the distribution and custody of unclaimed paychecks to ensure proper safeguarding of assets and separation of duties.

In Meeting the Control Objective of Safeguarding of Assets, Which