| With the rash of recent media stories about | | | | bookkeeper or staff for the sake of convenience. |
| bookkeepers defrauding their employers, we | | | | But it means that cheques to unknown payees |
| thought it was time to offer a few tips that could | | | | and in unknown amounts can easily be made out - |
| keep the same thing from happening to you. | | | | and the fraud doesn't even have to forge your |
| First of all, realize that the person who defrauds | | | | signature! |
| you could be the person you least expect. Would | | | | 3. Never give signing authority on your bank |
| you think a church bookkeeper who had held her | | | | accounts to a bookkeeper. You open yourself to |
| position for close to 20 years was a fraud? No? | | | | abuse if your bookkeeper has legitimate power to |
| Neither did the church. And the bookkeeper bilked | | | | write cheques without your knowledge. |
| the organization for hundreds of thousands of | | | | Be the first person to open and check your bank |
| dollars. | | | | statements each month. Question any entry or |
| Since you can't live your life in a state of constant | | | | cheque that you don't recognize. Bookkeepers |
| paranoia, suspecting every person who crosses | | | | often go years without being detected simply |
| your path, here are a few safeguards you can | | | | because they are the only ones who actually |
| use to minimize the chances of fraud happening | | | | watch what goes through the bank accounts. |
| within your organization: | | | | 4. Separate your bookkeeping and accounting |
| 1. Never give your online banking information to | | | | roles. Two pairs of eyes on your books can |
| anyone, period. Password access to your account | | | | provide a critical set of checks and balances. The |
| is just an engraved invitation for someone to dip | | | | accountant can review the bookkeeper's records |
| his hands into the cookie jar. By the time you | | | | and vice versa, ensuring each person is held |
| realize the money is gone, your bookkeeper could | | | | accountable and deception is more likely to be |
| be too. | | | | caught. |
| 2. Never have blank signed cheques anywhere. | | | | Be smart and be aware. With a little caution, you |
| This is a common mistake; many business | | | | can dramatically reduce your chances of being |
| owners leave signed cheques with their | | | | victim to fraud. |