A fundamental element of internal control is the segregation of certain key duties. Adequate segregation of duties reduces the likelihood that errors (intentional or unintentional) will remain undetected by providing for separate processing by different individuals at various stages of a transaction and for independent reviews of the work performed. The basic idea underlying segregation of duties is that no employee or group should be able to perpetrate or conceal errors or fraud in the normal course of their duties.

This tool contains 14 sample questionnaires designed to optimize internal controls, identify and mitigate risks associated with conflicting responsibilities, and prevent potential fraud.

The following processes are covered in these samples:

1. Cash Receipts in Significant Applications
2. Expenditure
3. Fixed Assets
4. Hotel Revenue
5. Inventory
6. Payroll
7. Procurement and Accounts Payable
8. Purchasing and AP
9. Revenue
10. Controls For Significant Accounting Applications    
11. Financial Controls
12. Treasury
13. Accounts Receivable
14. Financial Reporting