What is the major segregation of duties that should be maintained when the entity does not use a registrar or transfer agent and sufficient personnel are available to perform the stock transactions?

When the entity does not use a registrar or transfer agent and a sufficient number of personnel are available, the following segregation of duties should be maintained:

• The individuals responsible for issuing, transferring, and canceling stock certificates should not have any accounting responsibilities.
• The individual responsible for maintaining the detailed stockholders' records should be independent of the maintenance of the general ledger control accounts.
• The individual responsible for maintaining the detailed stockholders' records should not also process cash receipts or disbursements.
• The preparation, recording, signing, and mailing of dividend checks should be appropriately segregated.