Effective segregation of duties is sometimes not economically feasible in a small business. What internal control...

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Effective segregation of duties is sometimes not economically feasible in a small business. What internal control...

Effective segregation of duties is sometimes not economically feasible in a small business. What internal control elements do you think can help compensate for this threat?

business accounting

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Answer 1

Answer #1

answers:-

Internal control elements :-

- conduct its business is an orderly and efficient manner

- Produce reliable and timely financial and management information

- Safeguard its assets and resources

- Deter and detect errors,fraud,and theft

- Ensure adherence to its policies and plans

:-It is important to segregate the duties so that " NO SINGLE EMPLOYEE BE GIVEN TOO MUCH RESPONSIBILITY OVER BUSINESS TRANSACTIONS OR PROCESSES "

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Answer 2

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Effective segregation of duties is sometimes not economically feasible in a small business. What internal control...

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