Because it is the most fungible of all assets,the management of cash has always been the most difficult of all control issues.The most important of cash controls is

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Segregation of duties is the most important cash control as it ensures that no single individual has too much control over the cash handling process, reducing the risk of fraud or errors. Minimization of cash handling and lockbox arrangements are also important controls, but they are secondary to segregation of duties. Frequent reconciliation of records is important but is more of a monitoring and auditing function rather than a control.

Because It Is the Most Fungible of All Assets,the Management