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Difference between segregation of duties and independent internal verification?
Wiki User
∙ 13y ago
Segregation of duties = related tasks divided among certain number of people so one person is not responsible for all tasks (to prevent fraud).
Independent Internal Verification= due to segregation of duties, one's work can be verified by another.
i.e. surprise verification by managers of daily transactions & record keeping.
Wiki User
∙ 13y ago
Segregation of duties involves dividing tasks and responsibilities among different individuals to prevent fraud and errors. Independent internal verification involves having a separate party verify the accuracy and completeness of financial information or activities to ensure reliability and integrity of the data. Both practices are important internal controls to mitigate risks and enhance accountability.
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