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Best Review or Audit Performed on Employee Accts.

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Question: 
What is the best type of review or audit performed on employee accounts? What are the recommended intervals and best way to show the findings or results?
Answer: 

This is risk based but often involves a random selection of staff and a review of one or two quarters of bank statements. Looking for odd deposits is a key as those could indicate embezzlement or fraud or those "living beyond their means."

This is a very sensitive issue and while all employees need to be subject to review and random selection, it is more than just a privacy issue based on who is being reviewed and what statement contents can reveal.
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First published on 06/14/2020

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