Segregation Of Responsibilities – For Cheque Handling
No.
Question
1
Are the responsibilities of Cheque handling properly segregated, to avoid fraud, and to execute the operation seamlessly?
2
Do authorized persons different for signing a Cheque and releasing a Wire transfer?
3
Does only authorized personnel have the access to Blank cheque stock, and to establish the Wire transfer?
4
The personnel who are responsible for Authorizing Transactions, can’t access the Blank Cheque Stock or Record the transaction?
5
Are the access for all Signature Stamp restricted only to authorized personnel, and not readily available for inappropriate use?
6
Does the Bank use dual signatures as further precautions for cash disbursements?
