Segregation of duties in financial management is primarily intended to

Type: MCQ • Marks: 1

Segregation of duties in financial management is primarily intended to:

A. Increase concentration of financial power

B. Reduce accountability

C. Eliminate supervision

D. Reduce the possibility of fraud and error by separating authorisation, custody and recording functions

Explanation

No single individual should ordinarily control all stages of a financial transaction, because separation provides an important internal control.

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UPSC Principal & Vice Principal Management Finance Administration

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Segregation of duties in financial management is primarily intended to: