Segregation of Duties, also known as Separation of Duties, is the concept of requiring more than one person to complete a task.  The purpose of this requirement is to help prevent fraud and mistakes, and the practice is a key internal control for any business. In effect, setting up a separation of duties creates a system of checks and balances to ensure that errors from simple mistakes to outright fraud are not made.  
 
The key principle of separation of duties requires that no one individual can be assigned job functions in more than one of three categories of responsibilities. These three categories include asset management, bookkeeping or transaction recording, and review of transactions and balances.

To Read More Click Here