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Separation of duties (SoD), also known as segregation of duties, is the concept of having more than one person required to complete a task. It is an administrative control used by organisations to prevent fraud , sabotage , theft , misuse of information, and other security compromises.
The segregation of duties plays an important role. In this way, strict control is kept over system software and data, keeping in mind functional division of labor between all classes of employees. References
Segregation of Duties is explained in SoD matrix. X and Y matrixes describe system roles. If the two roles are mutually exclusive, there is a flag at the interception of the corresponding rows and columns.
In business and project management, a responsibility assignment matrix [1] (RAM), also known as RACI matrix [2] (/ ˈ r eɪ s i /; responsible, accountable, consulted, and informed) [3] [4] or linear responsibility chart [5] (LRC), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process.
Also, developing a matrix for all functions highlighting the points where proper segregation of duties has been breached will help identify potential material weaknesses by cross-checking each employee's available accesses. This is as important if not more so in the development function as it is in production.
An entity-level control is a control that helps to ensure that management directives pertaining to the entire entity are carried out. These controls are the second level [clarification needed] to understanding the risks of an organization.
Internal control involves human action, which introduces the possibility of errors in prosecution or trial. Internal control can also be overridden by collusion among employees (see separation of duties) or coercion by senior management. The magazine CFO reported that companies are struggling to apply the complex model provided by COSO. "One of ...
Segregation of duties. The credit union should have adequate segregation of duties and professional resources in every area of operation. Segregation of duties may be limited by the number of employees in smaller credit unions. Audit program. The effectiveness of the credit union's audit program in determining compliance with policy should be ...