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25 September, 08:13

In a properly designed internal accounting control system, the same employee should not be permitted to:

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  1. 25 September, 10:19
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    In a business world, segregation of duties is important to have a sound internal control. The employee handing cash/check collection is prohibited from updating its customer's subsidiary ledger and recording of transactions in the books. This will eliminate fraud and misappropriation of funds.
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