Functions should be completely segregated

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Reference no: EM133399939

Identify whether yes or no with explanation if the following tasks or functions should be completely segregated from those performed by the bookkeepers who handle accounts receivables or the person who supervises them.

1. Checking customers' statements to accounts receivable ledgers

2. Settlement of accounts receivable items in question

3. Approving discounts

4. Approving allowances

5. Approving refunds

6. Approving other credits

7. Investigation and follow-up of delinquent accounts receivable

8. Approving the write-off of bad accounts

9. Handling any cash or performing any work on cash records

10. Mailing or delivering statements to customers

11. Opening Incoming mail

12. Ageing of accounts receivable

Reference no: EM133399939

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