Answer: There is insufficient separation of accounting duties.
Trend: This increases the risk of errors or fraud due to overlapping responsibilities.
List: Implement clear roles to ensure different individuals handle physical assets and accounting records.
Finding Text
There is a lack of segregation of accounting duties that enables the same individuals to have access to both physical assets and the related accounting records or to all phases of a transaction.
Corrective Action Plan
The duties will be segregated as much as possible and the Board of Directors will remain involved in the financial affairs of the Network to provide oversight and independent review functions.