Problem

Characteristics of internal control [5-10 min]Separation of duties is a key internal contr...

Characteristics of internal control [5-10 min]

Separation of duties is a key internal control.

Requirement

1. Explain in your own words why separation of duties is often described as the cornerstone of internal control for safeguarding assets. Describe what can happen if the same person has custody of an asset and also accounts for the asset.

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