Too few staff, a shoestring budget, technology limitations, and a simple lack of internal controls processes: sound familiar? These challenges are commonplace for the public sector, but they’re also major risk factors that stand in the way of proper segregation of duties (...
In my words, internal control systems have at their heart two elements: management supervision and segregation of duties. One of the purposes of an audit is to identify and assess the effectiveness of internal control processes and to observe and confirm whether internal control processes are being...