provide reasonable assurance that business goals will be achieved, including the prevention of fraud.
- Competent personnel, rotating duties, and mandatory vacations
- properly training and supervising personnel
- rotating duties and mandating vacations helps identify irregularities
- Separating duties for related operations
- cashier, cook, waiter
- ticket Sales, ticket-taker
- Separating operations, custody of assets, and accounting
- By separating the responsibilities for operations, custody of assets, and accounting, the accounting records serve as an independent check on the operating managers and the employees who have custody of assets.
- Proofs
- authorization, approval, and reconciliation.
- Security measures
- locked cases, security guards, mirrors, security tags, cash registers, safes.
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