Effective segregation of accounting duties is achieved when which of the following functions are separated?
A)Authorization,recording,and custody.
B)Recording,monitoring,and information system.
C)Authorization,monitoring,and risk assessment.
D)Recording,risk assessment,and control procedures.

Question

Quizplus · Accepted Answer

Effective segregation of accounting duties is achieved when functions of authorization, recording, and custody are separated. This helps to reduce the risk of errors and fraud by ensuring that no single individual can control all aspects of a transaction. Separation of recording and monitoring functions is also important, but it is not sufficient for effective segregation of duties. Similarly, risk assessment and control procedures are important, but they are not directly related to segregation of duties.

Effective Segregation of Accounting Duties Is Achieved When Which of the Following