An IS auditor is planning an audit of an organization's accounts payable processes. Which of the following controls is MOST important to assess in the audit?
A.
Segregation of duties between issuing purchase orders and making payments
B.
Management review and approval of purchase orders
C.
Management review and approval of authorization tiers
D.
Segregation of duties between receiving invoices and setting authorization limits
Segregation of duties is a critical internal control mechanism that helps prevent and detect errors and fraud. The separation of duties ensures that no single individual has the ability to both create and approve purchase orders and make payments. This segregation helps in preventing unauthorized or fraudulent transactions, as it requires collusion between multiple individuals to circumvent controls.
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3 months, 3 weeks ago