Core Issue: One person is handling multiple functions, which increases the risk of errors or fraud.
Impacted Requirements: Lack of proper segregation of duties undermines internal control standards.
Recommended Follow-Up: Explore options for cross-training staff or implementing oversight measures to improve internal controls.
Finding Text
Various functions of the Organization are performed by the same person. The size of the office staff precludes a proper segregation of functions to assure adequate internal control. The basic premise is that no one employee should have access to both physical assets and the related accounting records or to all phases of a transaction. Limited staff is available to segregate duties.
Corrective Action Plan
This finding will not completely resolve itself given the cost/benefits basis the Organization continues to base this decision on.
Categories
HUD Housing ProgramsInternal Control / Segregation of Duties