Ask Question
25 November, 17:27

Which internal control procedure addresses the idea that the likelihood of employee fraud or theft is reduced if collusion is required to accomplish it?

+5
Answers (1)
  1. 25 November, 18:59
    0
    The options for answering this question are the following:

    A) Physical controls

    B) Separation of duties

    C) Use of prenumbered documents

    D) Fidelity bonding

    The correct answer is B) Separation of duties.

    Explanation:

    Separation of duties is a key concept of internal controls. Greater protection against fraud and errors must be balanced with the increasing cost and effort required.

    Separation of duty, as a security principle, has as its primary objective the prevention of fraud and errors. This objective is achieved by disseminating the tasks and privileges associated with a specific business process among multiple users. This principle is demonstrated in the traditional example of separation of duty in the requirement of two signatures on a check.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which internal control procedure addresses the idea that the likelihood of employee fraud or theft is reduced if collusion is required to ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers