The Grant Doctors 365

The Grant Doctors 365 / 102120

If you have an in-house accountant or bookkeeper, do you require them to take vacation every year? Not only is it a good idea to keep people fresh, but it has another benefit: it helps expose weaknesses in your financial controls. It’s a very basic “stress test” for organizations to have critical people go out for a week or two. Accounting and bookkeeping positions have a great deal of authority. They write checks, they deal with vendors, they maintain the books and they receive invoices and other important mail directly, with very little scrutiny. If there’s going to be any embezzlement or financial shenanigans, there’s a good chance it’ll start with one of these positions. One way to expose wrongdoing is by requiring them to take vacation; scams typically break down once they’re away from the office for a while.