Segregation of duties is used to ensure that errors or irregularities are prevented or detected on a timely basis by employees in the normal course of business.
Segregation of duties:
- A deliberate fraud is more difficult because it requires collusion of two or more
persons, and
- It is much more likely that innocent errors will be found. At the most basic level, it
means that no single individual should have control over two or more phases of a
transaction or operation.