CompTIA CASP+ Practice Test

What should be done to prevent future security breaches involving personnel in finance?

1. Eliminate the role of finance manager

2. Separate duties of data entry and purchase order approvals

3. Increase security awareness training

4. Restrict access to financial software

The correct answer is: Separate duties of data entry and purchase order approvals

To effectively prevent future security breaches involving personnel in finance, it is crucial to implement the separation of duties between different roles and tasks. This practice reduces the risk of fraud or error by ensuring that no single individual has control over all aspects of a financial transaction. By separating the duties of data entry and purchase order approvals, you create a system of checks and balances. This means that one individual cannot both input data (which could be manipulated) and approve transactions (which could be compromised). This division of responsibility makes it more difficult for malicious activities to go undetected since it requires collusion between employees to bypass controls, thereby increasing overall security. The separation of duties not only helps detect potential fraud or errors but also aligns with good governance principles and compliance with various regulatory requirements. It encourages accountability and transparency within the financial processes of an organization, which are critical attributes in mitigating risks associated with financial transactions.