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.
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.
For CPAs and business advisors, thought-provoking questions are the most valuable tool for learning a client’s business and financial challenges. When you ask thought-provoking questions about potential problems or opportunities, it expands a person’s perception of what you can do for them.
Frequent voluntary turnover can negatively impact employee morale, productivity and company revenue. Stay interviews offer an opportunity for open dialogue; they can help an organization understand what motivates a person in their job, and also uncover frustrations or issues.
When first sitting down with a prospect, many of us tend to spend the first part of the meeting introducing ourselves and our credentials. After all, we want to win the business, right? But this might not be the best way to help convince potential clients that you are the right choice for the job.
As “Fiduciary Responsibility” increasingly gains the public’s attention, plan sponsors must become more aware of their own responsibilities that are established by the Employee Retirement Income Security Act (ERISA). Here are some questions that plan sponsors need to consider as they re-evaluate the responsibilities their positions entail.