Finding Text
2022-003: Segregation of Duties Condition: A good system of internal accounting control requires a proper segregation of duties to prevent one person from being in a position to authorize, execute and record the same transaction. Criteria and Cause: Due to having a limited number of employees to handle all accounting functions, some duties and functions performed are contrary to ideal control procedures. Effect: We understand that the Organizations have segregated duties to the degree possible, including implementing monthly review procedures and additional oversight by the Executive Director and Board of Directors, and that management feels further segregation of duties is not practical with the limited number of people employed by management. Recommendation: We recommend that the review procedures implemented by the Executive Director and Board of Directors continue and that segregation of duties continue to be closely monitored. It is our understanding that efforts have been made to segregate duties to the degree possible and that further segregation of duties is not possible with the limited number of people utilized in the accounting function of the Organization.