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texasmade2550 texasmade2550
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2 months ago
Which of the following statements is most correct with respect to separation of duties?

▸ A person who has temporary or permanent custody of an asset should account for that asset.

▸ Employees who authorize transactions should not have custody of the related assets.

▸ Employees who open cash receipts should record the amounts in the subsidiary ledgers.

▸ Employees who authorize transactions should have recording responsibility for these transactions.
Textbook 

Auditing and Assurance Services


Edition: 17th
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penmcpenmc
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Employees who authorize transactions should not have custody of the related assets.

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texasmade2550 Author
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2 months ago
this is exactly what I needed
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Yesterday
Smart ... Thanks!
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2 hours ago
Thanks
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