Segregation of duties and Self-investment bias: Difference between pages

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Segregation of duties means splitting responsibilities within a process between different individuals or parts of an organisation, to reduce the risk of fraud.
''Cognitive bias''.


Having dual controls, for example:
Self-investment bias is an unconscious social bias.
*Capture by one person & verification or review by another person
*Segregating tasks between departments.  


It leads to the unwarranted continuation of support for projects that we have been seen to support in the past.


In a larger organisation each of the following departments cannot perform tasks for other departments, each is separate - front office, risk management, compliance, legal, operations, finance,
Self-investment bias is closely related to choice supporting bias.
etc.
Within each department, responsibilities are split & access rights to systems & information is on a need to have basis to perform the tasks.


==See also==
* [[Fraud]]
* [[Fraud Advisory Panel]]
* [[Front office]]


<span style="color:#4B0082">'''''Ignoring logic'''''</span>
:"When we have shown support for an idea, project or person, we can be reluctant to call a halt to that support.
:We can continue support or investment, long after logic suggests we call a halt."
:''The Treasurer magazine, December 2018 / January 2019, p41 - Dr Pete Jones, Chartered Psychologist.''
== See also ==
* [[Affinity bias]]
* [[Bandwagon bias]]
* [[Behavioural economics]]
* [[Choice supporting bias]]
* [[Cognitive bias]]
* [[Confirmation bias]]
* [[Diversity]]
* [[Dunning-Kruger effect]]
* [[Emotional intelligence]]
* [[Impostor syndrome]]
* [[Objectivity]]
* [[Optimism bias]]
* [[Reactance bias]]
* [[Social bias]]
* [[Source bias]]
* [[Sunk cost fallacy]]
[[Category:Working_effectively_with_others]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Ethics]]
[[Category:Treasury_operations_infrastructure]]

Latest revision as of 10:25, 27 March 2020

Cognitive bias.

Self-investment bias is an unconscious social bias.

It leads to the unwarranted continuation of support for projects that we have been seen to support in the past.

Self-investment bias is closely related to choice supporting bias.


Ignoring logic

"When we have shown support for an idea, project or person, we can be reluctant to call a halt to that support.
We can continue support or investment, long after logic suggests we call a halt."
The Treasurer magazine, December 2018 / January 2019, p41 - Dr Pete Jones, Chartered Psychologist.


See also