Answer: There's a problem with how accounting duties are divided, allowing the same person to handle both assets and records.
Trend: This lack of separation increases the risk of errors or fraud in financial transactions.
List: We recommend implementing clear divisions of responsibilities to enhance oversight and accountability.
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.