Management Finance - Part 1

Segregation of duties in financial administration is primarily intended to:

Type: MCQ • Marks: 1
Segregation of duties in financial administration is primarily intended to:
Options
A. Concentrate authority in one officer
B. Prevent errors and fraud by separating incompatible financial functions
C. Eliminate internal controls
D. Increase discretionary spending
Explanation
Separating functions such as authorisation, custody and recording reduces opportunities for manipulation and undetected fraud.
UPSC Principal & Vice Principal Management Finance Administration

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