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

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.

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Finalist in the Insurance Industry Awards

We were pleased to be advised this week that we are a finalist in the Australian Insurance Industry Awards in the category of Most Outstanding Authorised Representative Business for 2019.

Our company very much appreciates the accolade and just being nominated is prestigious to us. The awards ceremony is in August and we will see how we go, but being in the Top 4 is a credit to our team who have worked tremendously hard in the last eight years.

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