Have Internal Controls In Place
Do not tempt your employees to cheat on you by making it easy to do so.
Try these 4 simple Proven tips to enhance your Internal Controls at Workplace :
1. Division of Duties ( the person who Orders must not be the person who Receives the goods, the person who prepares Document must not be the person who Authorizes, etc )
2. Block Leaves ( ensure employees who are key responsibilities to go on long leaves, and have someone take replaces him or her during the leaves of absence )
3. Joint Bank Signatories ( have Group A and Group B bank signatories, never Single Signatory. Group A can be Decision Makers, Group B can be Operation Persons In Charge )
4. Authorization Matrix (eg, Below $1000, can be approved by Manager, above $1000 to be approved by Director and Manager, etc.)
If you need help, feel free to contact us at :
(O) +65 63851011
(M) +65 90880669