Segregation of duties

[Elisa pujadas]

Why is it important to have segregation of duty between the Accountant responsible for student accounts receivables and supervising the cashier’s function ie checking and depositing cash etc

 

[Werner Reisacher]

Separating duties by different types of processes achieves:
- an increase in the productivity of the processes in a business cycle
- reduces clerical errors since such errors would be detected in the following process
- and eliminates the possibility of fraudulent transaction due to the separation of the duties.
In non-accounting terms:
- you do not want the fox guarding the hen house.