Payroll is where most of the fraudulent activity occurs in businesses. Accountants use Segregation of Duties to safeguard company assets.

REQUIRED:

Research Segregation of Duties and prepare a Memo to your company executive.

In the Memo you will:

$1)$ Give a definition$/$ describe Segregation of Duties $($SOD$).$

$2)$ List down $3$ types of SOD.

$3)$ Provide a solution for the Red Flag. Is it okay to have one person that has access to a bank account, single signee of the Cheque Book and control of Payroll? $-$ discussion should be at least $3$ lines.