hard20 pts · first answer countsinternal-controlssegregation-of-duties

Controls with three finance staff

A ₹30 crore family business has an owner-MD and three finance staff, so full segregation of duties is impossible. Which design gives the most meaningful control over payments?

A.The senior accountant both creates and releases payments but keeps a detailed registerB.The MD releases all bank payments himself in net banking after seeing the supporting billsC.An external auditor reviews all payments at the year-end auditD.Payments below ₹5 lakh need no approval to keep the team efficient

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Controls with three finance staff

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