Can one individual perform more than one purchase card function, i.e. Billing Official or Cardholder?
Financial Management Regulations delineates the separation of duties. It states “Separation of duties creates a situation that should preclude errors or attempts at fraud or embezzlement from going undetected. Key duties such as authorizing, approving, and recording transactions; issuing or receiving assets; making payments; preparing checks and check signing; certification of funding; and reviewing or auditing shall be assigned to separate individuals to minimize the risk of loss to the Government to the greatest extent possible”.
