How to Segregate Duties with Two or More Accountants - Part 3 of 3

Having multiple accountants isn’t enough to ensure your controls are secure. If roles aren’t mixed, you could still face major risks. Segregation of duties isn’t just for solo accountants—it’s a must for every team.

Here’s how to create checks and balances with two or more accountants:

• Split, Don’t Isolate, Functions

  It’s tempting to let one accountant handle payroll while another handles accounts payable. But this creates silos where no one is checking the other’s work. Instead, divide duties within each function: one prints checks while the other reconciles accounts.

  
  

• Cross-Train for Better Oversight

  Train each accountant to perform parts of the other’s job. This creates natural oversight and builds redundancy for business continuity. Cross-training strengthens controls and helps your team cover for absences seamlessly.

  
  

• Involve Non-Accounting Staff

  For tighter segregation, bring in someone from another department for key tasks. For example, let them review or reconcile bank accounts. This third-party perspective adds an unbiased layer to your process.

  
  

• Outsource for Extra Security

  If resources are tight, consider outsourcing specific functions like reconciliations. External accountants provide professional oversight and reduce the burden on your team. Sometimes, an outside eye catches what an internal team might overlook.

  
  

• Customize to Your Needs

  Every organization is different—what works for one may not work for another. Combine these strategies or develop your own creative solutions. When in doubt, consult an expert to strengthen your controls further.

  
  

The size of your team doesn’t matter—your controls do. So, how well are you using your resources to safeguard your assets?