December 25 2009 Accounting Newsletter
After the Fact Controls or Real Time Controls
Improper segregation of duties triggers fraud. Internal controls should exist for each transaction cycle: Sales,
receivable & cash receipts cycle, puchases, payables and cash disbursements cycle, inventory and production cycle, personnel and payroll cycle, property, plant and equipment cycle.
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Consuelo Herrera, CAMS, CFE, Accounting Editor
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