What would be the best internal control for a small business with limited number of staff and segregation of duty is not practical?

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Which of the following is an inherent limitation in internal control?
Posted by:
Khawar
04-September-2013

Accounting Small Business Development Auditing Internal Audit Internal Controls

Question ajoutée par Utilisateur supprimé
Date de publication: 2017/04/30

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par IMRAN MOHAMMED , Asst. Manager , HSBC

continuous monitoring OR random checks by the management

periodic audits

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par Imran Adwani , Head of Internal Audit , Abdulla Bin Zayed Investment Group

Direct supervision from the owner on all critical business activities acts as a compensatory control when adequate segregation of duties are not possible. Moreover, if resources permit, it may be considered to appoint an internal auditor on a contract basis to further support the owner to maintain or strengthen the control over business.

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