Why is it important to organizationally separate the accounting function from other functions of the organization?

Expert Solution

The accounting function provides record-keeping services for all of the operations and day-to-day activities of other departments, which affect the financial position of the organization. Record-keeping tasks must be kept separate from any area that has custody over assets. Thus, the accounting function must remain independent so that the protection of the firm’s assets is carried out in an environment with minimum possibilities for theft.

Junaid answered 9 months ago

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