Do you condone theft from your company and \r\n
do you know whether it's really happening?
By Tony Kilcoyne\r\n
I have been advising business for 20 years and I can say with confidence that employee fraud occurs in over 90% of companies. Granted, the level of fraud varies but remarkably some company directors even tolerate it.
I will later describe different types of employee fraud, but first I want to describe to you what I call Director Psychosis.\r\n
Running your business efficiently includes your ability to understand the books your bookkeeper keeps for you and how to instruct your accountant. You will ask your accountant to prepare monthly or quarterly management accounts for you. Your job now is to interpret the results so that you can prepare strategies for your business.\r\n
On 7 August 2012 the Companies (Amendment)(No.2) Act 1999 (Section 32) Order 2012, Statutory Instrument No. 308 of 2012 was signed. This increased the balance sheet total and turnover thresholds for the purpose of availing of audit exemption.\r\n
The balance sheet figure is amended to €4.4 million (previously €3.65m) and the turnover figure to €8.8 million (previously €7.3m).\r\n