Propose three ways in which a company might prevent or minimise accounting errors.

      

Propose three ways in which a company might prevent or minimise accounting errors.

  

Answers


Kavungya
- Employing qualified staff in technical areas.
- Regular training of staff
- Surprise checks or automatic checks on items prone to errors such as cash and routine
balancing of entries.
- Automatic transfers and rotation of duties which is supposed to 'cut continuity off any
error perpetrated.
- Closer supervision over staff managing sensitive jobs..
- Periodic reviews by the management on a surprise basis.
- Use of mechanised accounting systems- in particular in those areas prone to frauds and
- Regular reconciliation
- Giving compulsory leave errors.
Kavungya answered the question on May 14, 2019 at 13:15


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