(a) Explain in your own words why separation of duties is often described as the cornerstone of internal control for safeguarding assets. Identify two things that a business can do to make it harder for a cashier to steal from the business and hide the theft..

(b) There are a number of accounting concepts and principles that strongly influence accounting practice. Identify and explain the concept or principle, if any, which is violated in each of the following situations.

(i) The owner of a furniture store uses the businesss bank account to pay his household expenses as he doesnt operate any other bank account .

(ii) A car tyre manufacturer changed from the reducing balance to the straight-line depreciation method but didnt think it worthwhile to mention this change in the financial statements .