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Separation of duties

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Separation of duties

It is important that no individual is responsible for completing a transaction alone.  In order to reduce the risk of deliberate misappropriation of funds, at least two people, and in some cases more, need to be involved in each transaction at School.

Example of How Processes can be Split to Achieve Separation of Duties

Table of Separation of Duties

Purchasing

Person 1

Person 2

Input orders (SIMS)

Yes

Yes

Authorise orders (SIMS)

Yes

No

Sign orders

Yes

No

Check goods received/sign delivery notes

Yes

Yes

Certify invoice

No

Yes

Input invoice (SIMS)

Yes

Yes

Authorise invoice (SIMS)

No

Yes

Authorise ‘non-order’ invoice

Yes

No

Prepare/issue cheque (SIMS/manual)

Yes

No

Sign cheque (minimum two signatories)

Yes

Yes

 

 

 

Income Collection

Person 1

Person 2

Raise local invoices

Yes

No

Receipt income/input to SIMS

No

Yes

Complete bank paying-in slip

Yes

No

Bank income

Yes

Yes

Post income to control record

No

Yes

Control arrears/issue reminders/pursue debt

Yes

No

Write off debt (*)

No

No

 

 

 

Cheque Control/Bank Reconciliation

Person 1

Person 2

Order cheques

Yes

No

Security of cheques

Yes

No

Bank reconciliation

Yes

Yes

(*)      Approval for write-off of irrecoverable debts must be obtained from the Head of Finance.

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