Determine accounting departments

Set-up separate accounts for each department

Assign departmental account managers

Create departmental budget plans

Establish account monitoring process

Execute the separation of departmental financials

Ensure transparency in account distribution

Monitor and manage cross-charging processes

Set guidelines for inter-departmental financial transactions

Implement account audit procedures

Ensure no single individual has access to all financial accounts.

Clearly define and limit access levels based on job responsibilities.

Implement multi-factor authentication where applicable.

Regularly review and update the authorization matrix.

Ensure a clear and documented approval process for financial transactions.

Implement a robust audit trail to monitor and track account activities.