An employee is entitled to 21 consecutive days annual leave on full pay in every leave cycle. An annual leave cycle is a period of 12 months with the same employer, calculated from the employee’s commencement of employment, or from the completion of that employees previous leave cycle.
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The impact fraud can have on a business can be monumental. Not only can it have a financial impact, but, depending on the type and severity, it can also destroy a business. While there are many types of fraud, below are five that can cause the most damage.
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Fraud risk assessments involve the process of identifying and addressing a company’s vulnerability to both internal and external fraud. Once a risk has been identified, a plan is then developed to mitigate those risks by instituting certain procedures and assigning individuals to monitor and effectuate the plan of mitigation.
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Procurement fraud is a serious issue that can have serious consequences on any business. Whether you’re a small business or a large corporation, it’s important to do what you can to prevent procurement fraud from happening in your organization. Doing this will help you protect your profits and ensure that all of your financial dealings are above board.
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Due diligence is important for both of the parties involved in the sale transaction of a business. But we need to keep in mind that the buyer is required to take a lot of information based on trust when deciding to go forward with the purchase of the business, this is where due diligence comes in.
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Many people go through the trouble of having a lying coworker who is completely dishonest and untrustworthy. The people you who work beside you can make or break your job satisfaction. An understanding manager and fun co-workers can make the worst jobs bearable and one of the hardest people to work with is someone who lies. It’s always advisable to identify such individuals and then necessary steps and actions should be taken so that they won’t bring more trouble.
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One of the most difficult situations to navigate amongst employees is how to appropriately handle an employee whom you suspect has been stealing. Employee thefts run the gamut from nicking office supplies from the storage room and stealing from coworkers’ lockers to falsely filling out time sheets, mishandling company intellectual property, customer identity theft and worse. Even more alarming, 75% of employees steal from their employer at least once.
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As businesses become more complex and competitive, the need for HR support has become increasingly important. HR outsourcing can provide companies with a cost-effective and specialized way to manage the human resources of their organization. This can help businesses save time and money while enhancing their ability to manage their workforce effectively.
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Fraud is a very serious matter, but a well-structured and organised fraud risk management policy diminishes your chances of losing an enormous amount of money due to erroneous number-crunching or an inside job.
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Vendor vetting is a process that allows businesses to verify the qualifications, capabilities, and trustworthiness of their potential suppliers.
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