Segregation of duties is an important part of the internal control system. It helps in the distribution of duties in such a way that no individual handles more than one activity or each control only one controlled activity so that it helps in detecting misstatements. The number of people that would be utilized and the types of duties that can be assigned to each person to help prevent errors and frauds in financial statements.

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Chapter 12, Problem 12.24P

To determine

Introduction: Segregation of duties is an important part of the internal control system. It helps in the distribution of duties in such a way that no individual handles more than one activity or each control only one controlled activity so that it helps in detecting misstatements.

The number of people that would be utilized and the types of duties that can be assigned to each person to help prevent errors and frauds in financial statements.

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