The 2 main types of payroll fraud from your employees, explained by your small business accountant in Sydney
Most of the time when people think about employees stealing from a workplace, it would be based around tangible items when the reality is there are even more costly forms of fraud that are happening to businesses of all sizes. Our small business accountants in Sydney will run you through the three main ways employees are scamming their workplace.
Your business accountant should always be on the lookout for any type of fraud when it comes to your payroll. Here are three of the most overlooked fraud cases:
• Timesheet fraud – this where employees are not putting in the correct hours that they have been working, which results in the employer paying more than required – worst case scenario for this is when the payroll clerk is on the scheme bumping up the hours of your employees
It is important to always keep a close eye out for any unusual behaviour involved in your business. As small business accountants in Zetland, we’ve seen too many businesses fall victim to cases like this and lose money.