Investment
Investment frauds are becoming more common than ever. For example, high-return or risk-free investments, Pyramid schemes, and Ponzi schemes are the names of some of the most common scams in the United States according to the U.S Securities and Exchange Commission (SEC). There are several controls people and/or companies can take to protect themselves from these scams. For starter, choosing the right money manager is extremely important because they are the ones who will be dealing with the money. Make sure the money manger is eminent, experienced, certified by the SEC. If the money manger demand full control of the money and overstate his or her honesty and trustworthy, that should be a red flag. It is important a company or an individual to have full control of their own finances at all time. Another control to protect from investment fraud is to buy “normal” investments from eminent brokerage company who brought and sold everyday investments. Make sure the investment brought is from the brokerage firm itself, and not from any other individual or the money manager. When writing out checks, make sure the checks are written to the well-known brokerage company as well, and not to the money manager or any other individuals. Last but not lease, avoid investments with promises of high returns or usually steady rates of return. It is a red flag when even the money manager cannot clarify his or her own process of the investment.
Payroll
Payroll is important to every business because the payroll and payroll taxes has an affects on the company’s net income. Moreover, it is importance because it is a laws and regulations’ subject matter. The main purpose of payroll in a company is to make sure the employees within the company are paid properly, accurately and in a timely manner with proper tax deductions and withholdings.
There are four categories