Fictitious vendor fraud is a rather common scheme. Unfortunately, it is more difficult to detect than just a quick scan of the payees or the check amounts. Spending a little time implementing a thorough vendor setup program is a great first step in preventing fictitious payment fraud.
Every successful organization follows the actions of its leadership. What happens when others in the business see unethical behavior—what are they to think? It’s a simple case of “monkey see, monkey do.” It is not uncommon for an employee to emulate what they see, and that extends to corporate behavior.
If you are an employer who provides a Health Reimbursement Account (HRA) for your employees, you may have an obligation to file an annual IRS Form 5500 for that program.
A company’s internal controls should not be limited to risks that directly impact financial statement line items such as improper revenue recognition or unsupported reconciliations. You should consider other risks that would be detrimental to your business and what controls might be established to mitigate those risks.
Can your organization absorb the loss of key personnel, whether it’s via normal attrition or something more sudden like illness or a personal emergency? It may be unpleasant to consider the possibility, but it’s important to plan for such absences by creating and maintaining standard operating procedures for each key role within your organization.
The first step in discouraging employee theft is establishing a proper “tone at the top” in regard to ethical behavior. Next, consider implementing the following proactive steps to deter employee theft at your company before it becomes a problem.
When it comes to preventing fraud and embezzlement, the element of surprise is a rarely used preemptive tactical advantage. Today, business executives need to utilize every advantage in their fraud prevention arsenal in the never-ending fight to prevent employee misappropriations.
Snow days are fun for kids, but a headache for adults. When bad weather wreaks havoc, should employees be required to come in to work? If they can’t, does PTO apply? Here are some best practices that will help you manage staffing issues during winter and beyond.
At our final stage in the onboarding process, it’s time to transition new employees from their scheduled orientation event to their permanent work space.
The exit interview is a conversation with a departing employee about their time at the company and the reason for their departure. Some employers conduct them to learn about workplace issues they may want to address. Exit interviews are only useful, however, if you’re willing to act on the information you receive and make improvements when necessary.