Segregation of duties


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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
 
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Joined
Jun 30, 2017
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Switzerland
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.
 

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