Fraud Prevention @ Ashcroft

To help prevent fraud, we have implemented the following...

• One partner is responsible, with the manager, for business and financial affairs
• Bank accounts are only operable with at least two signatories.  Cheques should be signed by two signatories.  The number on non-partner signatories should be restricted.
• Payments made by BACS require one partner's signature
• The same individual should, where possible, not be both payee and authorising signatory.
• The practice should avoid undue reliance on one member of staff for financial and business controls
• All income and expenditure is recorded and reconciled with a bank statement.
• Staff are never paid in cash for work undertaken
• There is a written procedure for using petty cash.
• Purchases of equipment over a certain cost are only made with the prior approval of a partner (£100).
• Approval to complete can be given for a specific process to a specific individual  ie for BACS
• All cheques signed should be accompanied by appropriate documentation, such as an invoice.
• The practice should ensure where possible that one individual does not place an order, authorise the invoice AND sign the cheque.