Segregation of duties in the purchasing function entails implementation of a three way match process where steps in ordering, receiving, and paying for goods are handled by three separate persons.

Question

Quizplus · Accepted Answer

Segregation of duties is a key internal control that ensures no single individual has control over all aspects of a transaction, reducing the risk of errors or fraud.

Segregation of Duties in the Purchasing Function Entails Implementation of a Three