Cstan98 Why CEO Should Be Careful Of Payroll Fraud


Version3 2018.03.00

*Why CEO Should Be Careful Of Payroll Fraud in CEOship.

Mass payroll frauds mean high salaries overhead costs.

  1. *Introduction: Do Not Look Down On HR (Human Resources) Branch.

    Some ceos allow their companies to have massive payroll frauds. Below are the reasons why not to.

  2. CEO Job To Ensure.

    It is CEO Job to assign a Integrity Someone to teach that Company Official Employement Contract, that Person Personal Duplicate Employment Contract & that Person Bank Transfer-in amounts are the same. Everytime is a salary review change. Without enough money salaries for drinks/foods. Your Company Performances can excel how much?

  3. Cost Centres.

    One way to control & check Company Payroll is to assigned Cost Centres. Cost Centre = a Manager with a Payroll of His/Her Subordinates. The Cost Centre Manager is responsible for controlling the payroll costs of His/Her Payroll Operations. If there are too many Subordinates under a Manager. Then assign Sub-Managers to prepare the Sub-Payroll Lists & let the Manager certify Them.

  4. Cut Wastes & Frauds.

    CEO & CHO (Chief Human Resource Officer)/HR (Human Resource) Officer needs to cut extra wastes & frauds from Monthly Consolidated Payroll. Check for high payroll salaries that exceeds company policies. Check for non-existent payroll ghosts. Check latest Company Uniforms on real People. Check original Education Qualifactions/Employment Passes/NRIC/Resume/Trainings identification documents on real People. Check for repeat payroll under the same person with same name or different names. Check for repeat payroll transactions into the same bank accounts. ...

  5. Employment Background Checks.

    When employing Payroll Personnels. Should always do Employment Background Checks. Do They have clean criminal records? Do They have good Credit Scores (bad credit scores mean they are in debts & desperate for money)?

  6. High Overhead.

    When a new CEO joins the Company. There tends to be confusions. Therefore, the HR (Human Resource) Payroll may be in a state of confusion. If the CEO is not very careful with the Payroll, the company incurs very high overheads. Every month. the company is paying payroll ghosts who don't exist working for the company.

  7. Low Morale.

    When the company payroll overhead is very high. Salaries of working Staffs tend to be cut. This creates a downward spiral of low morale & motivation in the company. The company staffs morale becomes very low. To cut costs to raise the morale & salaries of the Company Staff. CEO needs to be very careful with payroll fraud.

  8. Massive Stealings.

    If the ceo is not careful with payroll fraud. There are massive stealings in the payroll. The company cashflows become very affected with this kind of massive stealings overheads.

  9. Pigs Eating.

    A company with pigs eating is very obvious. You look at Animal Encyclopedia. What look like a pig? What look like a malnutrition thin sheep? How pigs do it:

    (01) CEO says: give all Pastors $2,500 .

    (02) The payroll pig prints employment contracts of $1,500 .

    (03) Falsify filed offical employment contracts of $2,500 for Auditor.

    (04) The payroll pig tells all Pastors They are not supposed to reveal Their Salaries.

    (05) All Pastors complain not enough to eat.

    (06) CEO raises salaries to $3,000 .

    (07) The payroll pig prints new employment contracts $1,550 .

    (08) Falsify filed offical employment contracts of $3,000 for Auditor.

    (09) You should now able to guess what ultimately happens to this kind company payrolls.

    (10) The you may think this kind of pig payroll officers are having a good life. Not really. The swiss auditors/bankers confirm ransom them like their slaves.

  10. Pigs Eating2.

    How Ancient Chinese Emperors deal with pigs eatings. Every 3 years send IIO (Imperial Investigation Officer) around Country. This IIO (Imperial Investigation Officer) is a high ranking Officer. Full of integrity. And escort by a high ranking General with 1 Platoon. With full access to call the whole Army Commands as backup. Why? Because local pigs officers have enough army/police powers to death threats. Anyone who complains to IIO (Imperial Investigation Officer). Is to be given 30-100 strokes first. Why? So that IIO (Imperial Investigation Officer) attend to serious enough cases. Anyone who is willing to receive 30-100 strokes first have a serious enough case.

  11. Should Not Use Cash/Cheques.

    When paying Payroll Salaries. Should not use cash/cheques. Should use good reliable Banks Direct Debit Transactions with Transacted Bank Accounts Monthly Reports. This is because for cheques. The payees on the cheques are very difficult to check.

  12. *Conclusion: Careful Of Payroll Frauds.

    Payrolls need to be secure. Mean CFO/CHO Branches are secured.

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