Duality principle: Difference between revisions

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imported>Doug Williamson
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== See also ==
== See also ==
* [[Balance sheet]]
* [[Bookkeeping]]
* [[Bookkeeping]]
* [[Convention]]
* [[Double entry]]
* [[Double entry]]
* [[Duality]]
* [[Duality]]

Revision as of 12:36, 16 December 2021

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.


See also