Page 118 - Misc Ebook IC 78

The Insurance Times

and other control measures to secure accuracy of
accounts are properly applied, and supervision over the
employee exercised.

Some of the important checks are as follow:
(i) An employee should be recruited only after a

thorough check of his backgrounds and credentials.

(ii) All the employees should provide the reference of
his previous employers and minimum of two
independent individuals.

(iii) Depending on the nature of business and the type
of work, the employees may need to be checked by
security personals while leaving the premises.

(iv) Money should not be allowed to accumulate in the
hands of any one employee to an unreasonable
extent.

(v) All money is collected on behalf of the employer
should be paid over the or at short regular intervals.

(vi) Employees engaged in handling money should not
also be employed for updating the books or records
in which the money is accounted.

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