The Importance of Separating Duties in Finance

Once you've got a couple of people in your finance team, you want to start doing what's called segregation of duties. The real big risk in any finance department is that someone who has access to your bank accounts can go rogue and pay fictitious suppliers or just transfer money to themselves. So being able to divide that up helps a lot. But ultimately, once you get to a certain size, you want your finance team to handle that completely.