List the key segregation of duties in the purchasing process. What errors or fraud can occur if such duties are not segregated?

Segregation of Duties: The purchasing function should be segregated from the requisitioning and receiving functions. Possible Errors or Fraud: Theft of goods and possible payment for unauthorized purchases. Segregation of Duties: The invoice-processing function should be segregated from the accounts payable function. Possible Errors or Fraud: Overpayment for goods and services or theft of cash. Segregation of Duties: The disbursement function should be segregated from the accounts payable function. Possible Errors or Fraud: Theft of cash. Segregation of Duties: The accounts payable function should be segregated from the general ledger function. Possible Errors or Fraud: A defalcation that would normally be detected by reconciling subsidiary records with the general ledger control account.