Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Explain how the principle of separation of duties is violated in each of the following examples. Suggest one or more procedures to reduce the risk

Explain how the principle of separation of duties is violated in each of the following examples. Suggest one or more procedures to reduce the risk and exposure highlighted in each example.
a- An cashier received two checks from a customer, cashed the checks, and destroyed the documentation
b- An employee noticed that ten laptops were included in a shipment while the company ordered eight only. The employee puts the additional laptops behind the bin while unloading the vendor's delivery truck. She then picks up the items later in the day and puts them in her car without recording them in the inventory ledger
c- An employee and vendor engaged in a collusive relationship after the employee received $ 5,000 for the purchases made from this particular vendor.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Learning From Collaborative Audit

Authors: Higher Education Quality Council

1st Edition

1858242312, 978-1858242316

More Books

Students also viewed these Accounting questions

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago

Question

4-6 Is there a digital divide? If so, why does it matter?

Answered: 1 week ago