As the new accounting manager for a water district, you have been asked to evaluate the internal controls utilized by your new employer. You find that the following controls are in place. Please define and explain the importance of internal controls in

As the new accounting manager for a water district, you have been asked to evaluate the internal controls utilized by your new employer.  You find that the following controls are in place.  Please define and explain the importance of internal controls in general and of each listed internal control.

1. Separation of duties

2. Rotation of duties

3. Multiple levels of signature authority