Why receipt for every expenses is must. Ask Al-Qaida

Posted on Leave a commentPosted in Accounting-Auditing

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Every organisation follows policy on expenses reimbursement, record/book keeping of overheads. Some auditors are paranoid about non availability of vouchers even for seemingly innocuous expenses, few expenses like rickshaw charges does not generate any voucher. In Corporate; people bicker about need for record keeping, why can’t employee be trusted for few bucks, when they take very important decisions, affecting hugely (monetary/non monetary) to the Organisation.

Though, Al-qaida, is not a right example to follow under any circumstances; recent discovery have unearthed a manic level obsession of al qaida to track every expenses. For details, read the story.

Take away from the reading is multifold;

1 You can’t escape audit, even if you become Terrorist.

2 Accounting/Auditing could be the oldest profession,Okay…Second Oldest.

3 On serious note; Organisation structure and processes are indispensable.

You could make your own list..