If Possible, the Bank Reconciler Should Have No Other Duties

question 37

True/False

If possible, the bank reconciler should have no other duties relating to cash transactions in the business.

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Definitions:

Outsourced

Refers to having contracted a third-party organization to handle certain business functions or services outside the company.

Predictable

Having a nature or behavior that can be anticipated or expected based on certain indications or patterns.

Fully Or Partly Automated

Systems or processes that are operated either entirely or partially by machines or software to reduce human intervention.

Complexity And Need For Confidentiality

Refers to the intricate nature of certain information or processes and the essential requirement to keep such information protected and undisclosed.