Duality principle: Difference between revisions
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In risk management and governance, duality is the organisational principle that any process capable of generating a significant impact or loss should be subject to independent review. | In risk management and governance, duality is the organisational principle that any process capable of generating a significant impact or loss should be subject to independent review. | ||
Sometimes abbreviated to ''duality.'' | |||
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* [[Convention]] | * [[Convention]] | ||
* [[Double entry]] | * [[Double entry]] | ||
* [[ | * [[Double entry bookkeeping]] | ||
* [[Four eyes]] | * [[Four eyes]] | ||
* [[Journal]] | |||
* [[Ledger]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 05:36, 20 July 2022
1. Bookkeeping and accounting.
The dual aspect principle that every accounting transaction affects two accounts.
Therefore the balance sheet should always remain in balance.
2. Internal controls.
In risk management and governance, duality is the organisational principle that any process capable of generating a significant impact or loss should be subject to independent review.
Sometimes abbreviated to duality.
