Segregation of Duties Is a Fundamental Concept in an Effective

question 65

Multiple Choice

Segregation of duties is a fundamental concept in an effective system of internal control.Nevertheless, the internal auditor must be aware that this safeguard can be compromised through

• A)Lack of training of employees
• B)Collusion among employees
• C)Irregular employee reviews
• D)Absence of internal auditing

---

Definitions:

Business Goals

Objectives that a company aims to achieve over a specific period of time.

Compliance

Adhering to laws, regulations, standards, and ethical practices that are relevant to an organization’s operations and industry.

Vulnerabilities

Weaknesses or gaps in a security system that can be exploited by threats to gain unauthorized access to an asset.

Bank Reconciliation

The process of comparing and matching figures from the accounting records against those shown on a bank statement.