A company has noticed discrepancies in its inventory records. Which control activity principle should be applied to identify potential risks and propose solutions?

Establishment of responsibility should be applied to assign one employee to manage all inventory tasks and procedures.

Documentation procedures should be applied to eliminate the need for physical controls and security measures.

Independent internal verification should be applied to reduce employee workload and administrative burden.

Separation of duties should be applied to ensure different employees handle ordering, receiving, and recording inventory.