While many business owners have heard that they should be doing, another worker should step in to do their duties. This way, staff members will know that he or she isn’t the only individual looking at financial records.
“You can trust the person spending the funds but, if you don’t verify, sometimes the temptation to steal becomes too great,” Anderson wrote.
Communications firm Seva Call echoed Anderson’s sentiment by advising that no one person should be given absolute control of company finances. Having multiple individuals working in this area may curtail unauthorized transactions from being made.
Additionally, the organization stressed that using audit solutions is key. An internal audit system allows managers to easily trace information back to its source, meaning they can act more swiftly in case misconduct is happening.