Segregation of key duties is a fundamental element of internal control. Adequate segregation of duties reduces the likelihood that errors will remain undetected by providing for separate processing by different individuals at various stages of a transaction, and for independent reviews of the work performed. The basic idea underlying segregation of duties is that no employee or group should be in a position to perpetrate and to conceal errors or fraud in the normal course of their duties.
This questionnaire template is designed to evaluate the segregation of duties related to the financial controls process.