Question

Fill in the blank

1. When there is proper segregation of duties, the likelihood of fraud is reduced so that an employee attempting to carry out a fraudulent scheme would have to work in ____________________ with another employee.

2. Whenever feasible, cash handling activities and cash record-keeping activities should be assigned to different employees, according to the internal control activity called ____________________.

Answer 1

Fill in the blanks;

When there is proper segregation of duties, the likelihood of fraud is reduced so that an employee attempting to carry out a fraudulent scheme would have to work in ____________________ with another employee.

1.- collusion

. Whenever feasible, cash handling activities and cash record-keeping activities should be assigned to different employees, according to the internal control activity called __

2.- segaration of duties

Separation of duties