See Also: Accounting Depreciation Account Reconciliation Cash Flow Projections How to Develop a Daily Cash Report Future of the Accounting Workforce Accounting Fraud Prevention A small business owner typically cannot afford to hire enough people to have proper separation of duties to gain the internal controls needed to prevent accounting fraud. Using Internal Control and
Separation of Duties Definition Some circles refer to separation of duties as segregation of duties. It refers to a concept that leads to greater internal control within a company. The accounting separation of duties definition is a theory that the job of an employee should provide a reasonable evaluation for the job of another employee. In
See Also: Securities Act of 1933 Securities Exchange Act of 1934 Audit Committee Auditor American Institute of Certified Public Accountants – AICPA Sarbanes Oxley Act of 2002 The Sarbanes Oxley Act of 2002 or SOX for short is further regulation of the secondary market by requiring further internal controls within companies and extensive audit practices.
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