Sign Your Own Checks or Employee Theft!

Sign Your Own Checks or Employee Theft!
Sign Your Own Checks or Employee Theft!

Sign Your Own Checks or Employee Theft! – Employee theft has occurred to several of my client’s businesses over the years. If you own a company and want an employee to steal from you, let me make a suggestion. The best way to encourage employee theft is to give an employee the authority to sign the company checks. Any company under $25 million in sales should not have anyone other than the owner signing checks. There is too much risk to have an employee in the organization signing the business’s checks.  The same is true giving the authority to an employee to draw down the company’s line of credit.

Recently, I had a client that the bookkeeper opened a new corporation. She created fraudulent invoices for that entity to her employer and paid the invoices. She could do it because she had the authority to sign the company’s checks. When the monthly bank statement came in the mail, she pulled out the canceled checks to her company. She later destroyed the invoices she paid for her business. Before the owner became aware of the employee theft, she had stolen over $1 million over three years. The owner sued the bookkeeper but never recovered any of the funds.

Sign Your Own Checks or Employee Theft!

It should not take the owner that long to review the backup documents and sign checks. When the owner is the only signatory, it reduces the risk of employee theft. As a result, it also gives the owner the opportunity to become more familiar with all the company’s expenses.

My name is Robert Curry, and I am an Author, CEO Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.
Please click on the links below to read my other articles about business like this one – Employee Theft or Sign Your Own Checks!

Take Care of Your Superstar Employees!

Two Choices, Check References or Hire the Wrong Person!

New Incentive Plan For Better Results

Recently, I have published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I have turned around during my career. In both books, I have shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.

If the information in this article Sign Your Own Checks or Employee Theft helps you, your family or a business associate, please email me at bob@ceorsc.com and share with me the story.

If you would like to purchase either or both books autographed by the author, please click on the following link: Redtoblackbooks.com.

From Red to Black & The Turnaround
"From Red to Black" & "The Turnaround"


To our clients, past, present, and future:

I am Bob Curry, an author, and owner of CEO Results Coaching. It is incredible how often we hear a similar message and experience the same issues from new clients. Owners/CEOs feel like they are on an island with no one to turn to for advice. Unfocused employees are draining the company of its energy and funds, and sales teams have forgotten how to close deals. These clients say, in a desperate tone, “Bob, this just isn’t what I envisioned.” Our role is to refocus their efforts, so they can resurrect the original passion and vision that motivated them to start their company. The results, sales, and profits increase sales and profits, plus the ability to manage growth successfully.