Segregation of Duties (SoD)
A control principle that no single person should be able to both execute and conceal a transaction — for example, the person who creates a vendor master should not also approve payments to it.
Related terms
- Section 186 (Companies Act)
Governs a company's loans and investments to other companies, and the limits and approvals required beyond specified thresholds.
- Section 203 (Companies Act)
Requires specified companies to appoint Key Managerial Personnel, including a Managing Director or CEO, a CFO and a Company Secretary.
- Significant Influence
The power to participate in the financial and operating policy decisions of an entity without having control over those policies — one of the tests for whether a party is "related" under Ind AS 24.
- Slow-Moving / Obsolete Inventory
Stock that has not moved for an extended period, or that is no longer saleable at its carrying value, usually requiring a provision down to net realisable value.
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231 terms in total, or go deeper with working procedures and worked examples in the resource library.