Segragation of duties - AP _and_amp; AR 780
SOX-Migration last edited by
What are major issues with having both AP and AR under the same person??
angie last edited by
Do you mean AP - including cash disbursments processing and allocating it to invoices?
AR - do you means posting the cash received (including cash discounts and bank charges) to the Customer accounts, issuing Credit notes… accessing letter of credits and cheques???
Depending on the range of responsibilities and the controls in place, it might be very risky or not at all. Assigning these two processes to the same person, it is not recommended, but might be the only available solution for very small teams. If the finance team is reasonable, I always prefer to redesign the tasks and functions assigned, to prevent any future ‘problems’…
Is you have more details…