QUESTION 42 [20 Marks] Segregation of duties is a control activity that is important for adequate control. Thefollowing example presents a scenario where the auditor can provide assistance to theentity in establishing proper segregation of duties. TameBird Industries Ltd producesmeals for airlines and nursing homes. For the prior two audit engagements, your firmhas written a management letter recommending that TameBird Ltd establish bettersegregation of duties in the accounts receivable and accounts payable functions. TomTuffnut, controller for Tamebird Ltd, has received authorization to hire an additionalclerk to work in the accounting area. Tom now has three accounting clerks available,and he has asked you to provide advice on how to best assign the following functions: Responsibility for petty cash fund Opening of mail and listing of cash receipts Depositing cash receipts in bank Maintaining accounts receivable subsidiary recordsDetermining which accounts receivable are uncollectibleMaintaining cash disbursements journal Preparing cheques for signature Reconciling bank statements 53°89'99pr Required Prepare a recommendation to Tom Tuffnut on how best to distribute the variousfunctions among the three accounting clerks.