Shubham MangalShubham asked 2 years ago
1 Answers
Auditaudit Staff answered 1 year ago

Same person handling cash and also cash book is incompatible, as it will be very easy for him to steal cash and cover it in books as expense etc
so same person should not manage assets and maintain books of accounts or other important records
further example same person should not develop / maintain a system and also work as user, there will be chances of exploiting loop hole

further dual control means 2 people counting valuable items in bank independently and then comparing results , to see if there is any difference
it will ensure accuracy of records and check on each other.

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