Managing Risks of Fraud and Embezzlement

Managing Risks relating to Payroll

Handling a staff payroll also opens up risk exposures to embezzlement and fraud. However, the risks can be reduced by implementing systems that are closely adhered to. Following are some suggestions:

  • A screening process should be in place when paying salaries and wages,
    • a second person should check the figures and sign off that the original payments are correct.
    • systems should be checked regularly for unauthorized entries.

Payments to authorities such as tax, superannuation, and other levies should be checked by a person other that the person issuing the payments. 

Latest News

Finalists again in 2020

CPR Insurance Services was very pleased to be nominated again for this year's Insurance Business Magazine awards. Unfortunately the Awards night has been postponed until later due to COVID19, we very much appreciate the accolades this brings us. We have been nominated three years in a row now and won the the award the past two years. It was always going to be very hard to win three in a row.

read more

CPR Insurance Services Awarded Authorised Representative Insurance Business of the Year for 2019

Mandy and Robert Cooper were proud to receive the inaugural Authorised Representative Business of the Year from ANZIIF in the Australian Insurance Industry Awards for 2019.

We share this award with all our staff, Lauren, Guy and Sarah and thank them for their dedication in providing the best possible customer service. We also thank our clients who have made our business what it is today. We thank you all so much.

read more