Hi guys, been a while... Been at my new job for a couple of months and the lack of controls in place is shocking but what I expect for a small org. Strange thing occurred today, I was looking into sundry expenses and noticed that the accounts controller ( my direct report) had done some "shopping" for the company, few bits like toilet rolls, few odd bits like tv mags, wasn't too bothered about the tv mags what concerned me was the receipt was in the pretty cash tin with the cash claimed... Closer inspection the "shopping" was paid for on what appears to be with the company credit card( last 4 digits and exp date are the same, is possible tht the employee has the same ending card number but highly unlikely) checked out the credit card statement and the amount is there. Does this sound like theft or an honest mistake..... If it does surmount to theft the amount is around £50 in my mind any accountant stealing any amount of cash cannot be trusted. And should be asked to leave immediately , your thoughts? There is also the possibility that there may be other occurrences of similar behaviour , I guess some more digging is required. Now I'm going through a process of changing the controls within the department to ensure petty cash is double approved and all recited correctly, but currently there was bigger issues to deal with. Thanks slackda
My personal opinion Have you passed probation period? If not just ignore it and move along, if there is minor dodgy stuff is it worth getting on the wrong side of people who you're going to have to work with? However if it is your job to check this, keep an eye out and get some more info then speak to a boss, hopefully you're just been over cautious and it'll be respected.
Yeah been there for full probation period, I'm effectively the finance director so I don't give a monkeys if I ruffle financial feathers, the last guy that was there left so a crappy legacy just the changes I have made in the past three months alone have impressed and started getting the business back on track.
I wouldn't directly accuse them of anything - it might turn out that the receipt was completely legit. If you're really concerned, could you do a more general audit and see if you find out any more? It's probably "easiest" to just implement your planned changes to the approval system and make sure people can't fiddle the books in future.
If I'm reading your (excuse me for this) slight rambling you seem to be saying they spent £X on shopping, submitted the receipt for cash reimbursement and now that same amount/same details are showing on the company credit card statement. I'd suggest if the receipt attached to the petty cash chit is the til receipt itself its probably a mistake on the grounds I'm assuming that same til receipt will have to be submitted as evidence of spend with the credit card statement. That is unless you really do have no controls in place. I'd suggest you mention it to him once he's submitted the cc statement with receipts but approached from the point of view he must have accidentally charged it - it does happen occasionally if there are lots of expenses - or maybe he attached the wrong receipt to the petty cash claim. It gives him a "graceful" way out if it was deliberate, but as I said, if you have to support your cc statements with receipts he won't have one. If it's your responsibility and auditors pick it up it'll reflect on you if you did nothing. Now I'm rambling! If that's not clear pm me and I'll write a clearer explanation when I'm more awake.
Am I right in assuming the guy is double charging i.e. on the credit card and from petty cash? If it were me and since the amount in question is business level negligible I would approach him on his own and ask him about it, give him an easy way to back out, i.e. go in suggesting it was a mistake rather than going in throwing full on accusations. Also let him know you are putting more controls in place and that is why this issue was flagged. This may be enough to curb any future attempts of this kind if it wasn't an actual mistake. But essentially you are giving him the benefit of the doubt. At the same time continue investigating and keep a close eye for similar goings on. If this turns out to be more frequent or severe then of course much greater action would have to be taken. Edit: Rereading your original post and given the guy is an accountant and your stance on any accountant taking any amount. Perhaps just keep quiet and do a very thorough investigation and gather what other evidence there is. If there's nothing perhaps go with my original suggestion.
I agree with the concept that a hookey accountant is a hookey accountant - if he is guilty, one infraction is not forgiveable IMO - it's an abuse of trust and power. So I agree with theshadow2001 - try and investigate it thoroughly to find out whether there are any other indications. My experience of this kind of thing suggest that if he is dodgy - this won't be the only thing. Thieves always get greedy, especially if the situation has been going on for some time.
I don't know about your company, but I am responsible for paying back any purchases on my company credit card. I have to file an expenses claim which is paid to my bank account, I then pay that to my credit card - is it not possible he has done the same.
~To Clarify my waffle , this is a corporate Card, so backed and funded by the company, unlike corporate cards that are funded by the individual, i like how we have assumed this is a man.... i agree could be an honest mistake, which i could unstand with many expense claims, but generally we are talking 10-12 transactions a month....i will investigate further
in my experience, expenses should be signed off at multiple levels and with suitable evidence(receipts etc). Just highlight this as an example for why and bosh on with it.
Call him in, sit him down. He tells the truth and he was helping himslef you wrap his knuckles. He lies and was helping himslef; he's out on his arse. Its legit; wrap their knuckles anyway. For legal reasons I think they're allowed a witness.
I work in Probation and let me assure you this type of stuff happens and people get convicted of it more often than you realise. I cant go into details but there was one case where someone was ripping the company off for years until a chance glimpse of a receipt didnt add up. Cue court case and imprisonment once the full scale of it was realised. I would investigate further but dont form an opinion on it just yet - wait to see what the person says first as simple honest mistakes happen too.
I find it concerning that a Financial Director feels the need to come onto a PC modding forum to ask for advice on company card and petty cash transactions with other employee's. Get your facts 100% right before you approach them or someone higher up. If it is something trivial that you cannot be certain of, forget about it and help improve measures that can be put in place to prevent it in the future.
You've contradicted yourself there - don't you mean the corporate card is backed and funded by the company, whereas a company card would be funded by the individual? I occasionally combine orders for myself on the business credit card at work when ordering from the same supplier to save shipping costs, then write the office staff a cheque for the amount owed when the CC bill is due. This is obviously at their consent - I wouldn't just go and buy items using it without prior approval.
