Segregation of duties is an important mandate of Sarbanes-Oxley. Non-public companies can also benefit from this concept. Introduce segregation of duties to the enterprise to reduce the risk of fraud and errors in financial reporting.
Why Segregate Duties?
Segregation of duties is conducted for the purposes of determining who has access to the enterprise's systems and where potential conflicts may exist. Conflicts arise when an employee's job responsibilities overlap into another area, possibly allowing financial fraud to occur. Ensuring proper segregation of duties minimizes these conflicts and creates compliance with Section 404 of Sarbanes-Oxley.