When a proper segregation of duties exists in the area of handling cash receipts,the ________,who reports to the ________,actually handles the cash and is not the same person who posts cash receipts to customer accounts.

Question

Quizplus · Accepted Answer

In the area of handling cash receipts, it is important to have a proper segregation of duties to prevent fraud and errors. The cashier, who is responsible for handling cash, should not be the same person who posts cash receipts to customer accounts. The treasurer is responsible for overseeing the handling of cash and ensuring that proper procedures are followed, so the cashier should report to the treasurer.

When a Proper Segregation of Duties Exists in the Area