Indicate whether each of the following statements about separation of duties is true or false.
-Making one employee responsible for authorization and recording of transactions does not violate the principles of good internal control

Question

Quizplus · Accepted Answer

Separation of duties requires that different individuals be responsible for authorization, recording, and custody of assets to ensure that no one person has complete control over a transaction. Therefore, making one employee responsible for authorization and recording of transactions violates the principles of good internal control.

Indicate Whether Each of the Following Statements About Separation of Duties