Every accountant is representing himself as a fair and honest employee, but is it really always so? Unfortunately, sometimes it’s far from truth and accountants break the law and perform the financial affairs. It’s a very common situation because not all the businessmen are acknowledged in the peculiarities of financial and economic operations and small business bookkeeping and often give their accountant all the necessary information to perform the illegal actions. Also very frequent is the situation when the accountant is in collusion with the director, especially if none of them is an owner of the company.
So, what are the most wide-spread situations when dishonest accountant can steal the money of the company?
Salaries and bonuses. Although the budget on the payments has a strict order, there is always a possibility to make up a false bonus payment, having the signet or being in collusion with the boss. Such cases are very hard to prove so check scrupulously all the consumptions of company money.
Money transfer on a personal card. Sometimes it can be accountant’s own card or it can be performed through the shills. Such illegal actions are usually discovered very quickly so he tries to do it as fast as he can and disappear. To protect you from such situation, don’t ever sign any clean blanks, which can be requested to be signed on various reasons.
Kickbacks. It is a very common illegal financial affair. In many cases, even not the accountant can organize the whole stuff, he may just obey the instructions of his boss and then to face the responsibility with the other participants of the affair.
Forfeits and penalties. Sometimes the accountant can be not a criminal, but his work isn’t controlled and the penalties for the improper work just gather and one day can make company a bankrupt, and very often the worker is already fired and there is no possibility even to forfeit him.
Financial reporting must be thoroughly controlled. Even if you don’t understand anything in it, try to make a look that you can and be attentive to all reporting documents, because the data there can be not true.