The Responsibility for Keeping the Records for an Asset Should

question 72

True/False

The responsibility for keeping the records for an asset should be separate from the physical custody of that asset.

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Definitions:

Ground Rules

Basic guidelines or agreed-upon principles that govern the conduct of activities, discussions, or work within a group or organization.

Sarbanes-Oxley Act

A legislation passed in the United States in 2002 designed to safeguard investors through enhancing the precision and trustworthiness of corporate information sharing.

Whistle-Blowers

Individuals who expose illicit activities, unethical behavior, or legal violations within their organization to the public or authorities.

Provision

Provision is the act of supplying or making available goods, services, or funds needed for a specific purpose, or the items supplied themselves.