types of risk
- errors made
- unathorized transactions taking place
- fraud to be carried out
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| Term | Definition |
|---|---|
| types of risk | - errors made - unathorized transactions taking place - fraud to be carried out |
| Name of system used to control transactions | - internal control |
| All transactions should be | - Authorized - completely recorded - Accurately recorded - Safe guarded |
| Segregation of duties in accounting | A method of internal control that breakdown transactions into different stages, with different persons responsible for each stage. |