Final answer:
The concept where a vulnerable process is split between individuals to prevent fraud is called separation of duties. It's a key control in organizations to safeguard against errors and fraud, ensuring no one person has complete control over a critical process.
Step-by-step explanation:
A vulnerable process that is divided between two or more individuals to prevent fraudulent application of the process is known as separation of duties. This is a crucial concept in internal control where the completion of a task usually requires actions by more than one individual. This strategy mitigates the risk of errors and irregularities, including fraud, as it would require collusion among multiple individuals to perpetrate a fraudulent act. Separation of duties ensures that no single individual has control over all aspects of a critical or sensitive process, thus enhancing the security and integrity of the operational activities within an organization.