Here a scenario provides a clear, concise view of how SoD is structured at a company, facilitating an understanding of the company’s control mechanisms to prevent fraud and errors, and ensuring the integrity and reliability of financial operations.
1. Assignment of Responsibilities
2. Implementation of Controls
3. Monitoring and Review
4. Risk Assessment
5. Documentation
* Example Transactions
Scenario 1: Purchase of Server Equipment
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Cost: $25,000
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Process:
Scenario 2: Sales Commission Payment
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Amount: $15,000
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Process:
📢 𝐂𝐥𝐢𝐜𝐤 𝐢𝐧 𝐛𝐞𝐥𝐨𝐰 𝐥𝐢𝐧𝐤 𝐭𝐨 𝐫𝐞𝐚𝐝 𝐦𝐨𝐫𝐞:
