What Is The Concept Behind Separation Of Duties In Internal Controls?

erights.orgImage: erights.orgSeparation of duties (SoD; also known as Segregation of Duties) is the concept of having more than one person required to complete a task. In business the separation by sharing of more than one individual in one single task is an internal control intended to prevent fraud and error.

What is the goal of the separation of duties?

This is not the goal of the separation of duties concept, which is targeted at giving certain tasks to one person, and other tasks to another person - the concept is not designed for the duplication of tasks, so accounting errors are not likely to be reduced. The separation of duties is also known as the segregation of duties.

Why do payroll clerks need to separate their duties?

This keeps a payroll clerk from artificially increasing the compensation of some employees, or from creating and paying fake employees. A problem with the separation of duties is that it is much less efficient and more time-consuming than having a single person be responsible for all aspects of a transaction.

What is an example of separation of duty?

Examples of the separation of duties are: Cash. One person opens envelopes containing checks, and another person records the checks in the accounting system. This reduces the risk that checks will be removed from the company and deposited into a person's own checking account.

How does the separation of duties reduce accounting errors?

A misconception about the separation of duties is that it reduces the amount of accounting errors. This only happens if there is duplicate data entry, or if multiple people verify each others' work.

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