What is a 3-way match? 

Part 2: Why is the 3-way match considered an internal control? 

Part 3: Who is responsible for performing the 3-way match, the Purchasing department, the Receiving department, or the accounts Payable department? Please explain why this makes sense.

 

Q. 2

Part 1: What does the term separation of duties mean? 

Part 2: Why is the separation of duties considered an internal control? 

Part 3: Provide an example of the separation of duties.