Re: An Accountant Lost His Job, See Why? by jjcena(m): 3:41pm On Sep 07, 2022 |
Eye opener |
Re: An Accountant Lost His Job, See Why? by MagicalConcepts: 3:41pm On Sep 07, 2022 |
Tbrb |
Re: An Accountant Lost His Job, See Why? by alcuin(m): 3:41pm On Sep 07, 2022 |
He should have insisted on a mail from the Head of Operations. |
Re: An Accountant Lost His Job, See Why? by Ance4Liverpool: 3:41pm On Sep 07, 2022 |
That Head of operations need a special visit,bcs he is a wicked person |
Re: An Accountant Lost His Job, See Why? by Advancedman(m): 3:42pm On Sep 07, 2022 |
Baronthecelebri: The accountant should arrange boys and pay the man visit Yes I. The boys here does not necessarily means tout or their like but Holy ghost boys |
Re: An Accountant Lost His Job, See Why? by cmikel: 3:42pm On Sep 07, 2022 |
He learnt on the job |
Re: An Accountant Lost His Job, See Why? by famouscargo4u: 3:43pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
that accountant na ozuor. He should know better that such instructions must be backed by mail.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. |
Re: An Accountant Lost His Job, See Why? by MagicalConcepts: 3:43pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. While recovery from the empathy I gave to the young man who said he lost his job, this opened my eyes more. Trust, but verify. 1 Like |
Re: An Accountant Lost His Job, See Why? by omowolewa: 3:44pm On Sep 07, 2022 |
That's why Accountants are seen strict 2 Likes |
Re: An Accountant Lost His Job, See Why? by GloriousGbola: 3:46pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. Protip - android phone with call recorder. For emergencies only. 3 Likes |
Re: An Accountant Lost His Job, See Why? by Oyerinde16(m): 3:46pm On Sep 07, 2022 |
Looks like a set up, but either way, if he delayed and miss the contract, he may still be sacked... He can hardly question the HEAD of OPERATIONS on paper work during urgent situations... Its often do the transfer, secure d deal, we will do paper work later... 3 Likes |
Re: An Accountant Lost His Job, See Why? by fabregas04(m): 3:46pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. The term "young Accountant" says it all. @No 3, i guess u are an Accountant yourself or a control/process person/auditor to have know all that. when it comes to process and payment, nothing is urgent. even in the so called one-man Biz u still have to stand your ground as d accountant and ensure that established processes are followed with proper documentation and WRITTEN approval before initiating payments. The whole thing shows there's no control in the system cos ordinarily there should be payment terms with vendors. in that case d accountant cannot be caught unaware. there must have been necessary provisions for d payment to fly prior to d HoO rushing d accountant and what ought not. I still blame d accountant. 4 Likes |
Re: An Accountant Lost His Job, See Why? by manyus(m): 3:47pm On Sep 07, 2022 |
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Re: An Accountant Lost His Job, See Why? by harmargedon: 3:47pm On Sep 07, 2022 |
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Re: An Accountant Lost His Job, See Why? by 14kk: 3:47pm On Sep 07, 2022 |
On holy ground Threesha: on what grounds? |
Re: An Accountant Lost His Job, See Why? by Sammy07: 3:48pm On Sep 07, 2022 |
Baronthecelebri: The accountant should arrange boys and pay the man visit Ahswear |
Re: An Accountant Lost His Job, See Why? by frog12: 3:48pm On Sep 07, 2022 |
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Re: An Accountant Lost His Job, See Why? by Streetmovement(m): 3:50pm On Sep 07, 2022 |
Wotoporiously speaking So let me get this straight, Deal went sideways and HoO denied that he gave the order for such transactions which led to the sacking of the accountant, a.k.a HoO played clueless accountant Well it's well Good for the accountant, he lives by the law Not for some people though Let me end it here cuz they're a lot of ways to tackle issues like this; off the books 1 Like 1 Share |
Re: An Accountant Lost His Job, See Why? by advanceDNA: 3:52pm On Sep 07, 2022 |
Baronthecelebri: The accountant should arrange boys and pay the man visit He run me office wickedness.. I go run am street wickedness 50/50 |
Re: An Accountant Lost His Job, See Why? by blessedbanky: 3:52pm On Sep 07, 2022 |
You can leave the country and repackage yourself to be more attractive for your dream job.
You can do this by contacting us for IELTS, TOEFL, SAT preparatory classes at 5 Maxwell Avenue Port Harcourt, Rivers State. We also organise online tutorials for persons who live outside Port Harcourt. |
Re: An Accountant Lost His Job, See Why? by fabregas04(m): 3:52pm On Sep 07, 2022 |
lavylilly: Let's remember that a company where an accountant could be fired on the spot is a one-man company, therefore all these verify stuff may not work. If the accountant had delayed the payment, leading to loss of a major customer, he would still have lost his job. In such an organization, the one-man is the ultimate decider in every transaction, therefore the only real control that works there is confirm from him in all situations, even if by telephone call.
I have worked in one such company before in which the CEO expected instant adherence to his oral instructions, though he would authorise the transaction post-implementation. If the accountant insists on a written or verifiable authorisation before implementation, he would be fired on the spot is it better for d accountant to be fired for what is right and acceptable than to be fired for the wrong reason. he may be queried but not fired if he had delayed d payment, that's still better than been sacked for unprofessional acts. 3 Likes |
Re: An Accountant Lost His Job, See Why? by ajayiopy: 3:53pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. VERBAL INSTRUCTION IS A BIG NO FOR ME. YOU NEED TO WRITE TO ME EVEN IF YOU ARE THE M.D/CEO. THIS HAS HELPED ME IN SO MANY OCCASSIONS AS A SERVICE MAMANGER. INFACT I ALSO FORWARD IT IMMEDIATELY TO MY GMAIL INCASE UNA WAN GO STUPID. I HAVE A CAREER TO PROTECT 6 Likes |
Re: An Accountant Lost His Job, See Why? by CheapHomes1: 3:56pm On Sep 07, 2022 |
lavylilly: Let's remember that a company where an accountant could be fired on the spot is a one-man company, therefore all these verify stuff may not work. If the accountant had delayed the payment, leading to loss of a major customer, he would still have lost his job. In such an organization, the one-man is the ultimate decider in every transaction, therefore the only real control that works there is confirm from him in all situations, even if by telephone call.
I have worked in one such company before in which the CEO expected instant adherence to his oral instructions, though he would authorise the transaction post-implementation. If the accountant insists on a written or verifiable authorisation before implementation, he would be fired on the spot Bro, if you try what this accountant did even in a multinational or whatever, you are getting sacked. Period |
Re: An Accountant Lost His Job, See Why? by Halo22: 3:56pm On Sep 07, 2022 |
In as much as the accountant became a victim of circumstance, I blame him for adhering to such an instruction when it didn't come directly from the MD. However, I trust karma to visit the Operation head for denying the instruction he gave out on behalf of the company. 1 Like |
Re: An Accountant Lost His Job, See Why? by Drefaithful(m): 3:57pm On Sep 07, 2022 |
In an Ideal setting and standard organization an accountant needs to fulfil all the righteousness before such actions should be taken in line with financial regulation Act, most of us an accountants shoulder so many risk in the course of our duties.
Although, the nature of this subject matter depicts it as one man business. a lot of unconventional practices take place. apart from the fact that This accountant in question has been sacked, the matter can even lead him to EFCC net, on the ground that what are the evidence that was given to him before such action is taken. anyway the baby accountant is just a victim of circumstances, because of the fact that he found himself in what we call " ethical dilemma " 1 Like |
Re: An Accountant Lost His Job, See Why? by Psoul(m): 4:03pm On Sep 07, 2022 |
Threesha: An accountant lost his job the other day.
Here is what happened:
The Head of Operations walked in and asked the accountant to transfer a large payment to a vendor immediately.
He highlighted that it was critical that the transfer take place urgently or the company would lose a deal.
The HoO further said that the MD/CEO was aware of the transaction and that she would be devastated if the company lost the sale because of untimely payment.
So, on the instruction of the Head of Operations, our young accountant initiated the payment.
It was eventually discovered that there was a major issue with that supplier since they did not deliver the products. An internal review revealed that there were major reservations about working with that supplier. Indeed, the MD was taken aback about why the payment was made to such a problematic supplier.
The accountant was summoned to explain why he processed the payment and said it was per the HoO's instructions. The HoO strongly responded that he had never given such an order.
The accountant was sacked on the spot for negligence because there was no documentary evidence that he followed the HoO's directions.
While many things could have been managed better with adequate processes and controls in place, that is not the point of the story.
Yes, our accountant was a victim of unfortunate circumstances, but when you understand the type of atmosphere you operate in, you must take extra precautions to protect yourself.
1. Always require written or other recorded evidence for all transactions.
2. Verify whatever information you are provided to act on. Even if it comes from the MDs themselves. "Trust but verify." It is difficult to verify without documentation.
3. Finally, impose a system in which "nothing is urgent." There must be some processing time involved. That is the time when you calmly go over all the pertinent information and documents linked to what is on your desk. People use "urgent" and chaotic situations to commit all sorts of folly.
The above may be difficult to implement, especially in weak-control environments (read: one-man businesses), but they are necessary for your peace of mind.
Who can say? You could be the catalyst for change. The Accountant is not qualified to be and Accountant. He should know that the basic defense in an Accountant's hand is his evidential document. I will recommend his sack too if I am to take decision in that case. I will also sack the person that gave him that instruction and denied it. The person lack credibility. I can't allow such a person to run my business. I am an Auditor. I don't joke with internal control. There must be a laid down procedures. There must be policies that guide every activity in the company especially where it concerns finance. Sometimes, when you get endorsement from the M.D for huge payments, go back to him and make sure he really knows that he signed such. 3 Likes |
Re: An Accountant Lost His Job, See Why? by Kobicove(m): 4:04pm On Sep 07, 2022 |
They just sacrificed the accountant for nothing I'm sure he is relatively inexperienced |
Re: An Accountant Lost His Job, See Why? by fabregas04(m): 4:05pm On Sep 07, 2022 |
Halo22: In as much as the accountant became a victim of circumstance, I blame him for adhering to such an instruction when it didn't come directly from the MD. However, I trust karma to visit the Operation head for denying the instruction he gave out on behalf of the company. even if it comes directly from d MD it has to be in writing or d MD signs off on the payment voucher or d payment instruction. even a whatsapp msg(confirmation/instruction from d MD wld help too). u don't act on verbal instruction especially when it comes to money, knowing-fully-well that once it goes out it may be difficult to recover. 1 Like |
Re: An Accountant Lost His Job, See Why? by Nobody: 4:06pm On Sep 07, 2022 |
No the accountant is right and he did his job right. The problem is the oga and he was looking for any excuse to fire his accountant. |
Re: An Accountant Lost His Job, See Why? by Kobicove(m): 4:09pm On Sep 07, 2022 |
fabregas04: The term "young Accountant" says it all. @No 3, i guess u are an Accountant yourself or a control/process person/auditor to have know all that. when it comes to process and payment, nothing is urgent. even in the so called one-man Biz u still have to stand your ground as d accountant and ensure that established processes are followed with proper documentation and WRITTEN approval before initiating payments. The whole thing shows there's no control in the system cos ordinarily there should be payment terms with vendors. in that case d accountant cannot be caught unaware. there must have been necessary provisions for d payment to fly prior to d HoO rushing d accountant and what ought not. I still blame d accountant. Who told you the company has no process. The reason why this happened is probably because the Head of Operations put a lot of pressure on the accountant because he is of a higher rank |
Re: An Accountant Lost His Job, See Why? by oriewanbe: 4:10pm On Sep 07, 2022 |
Fake story. This OP just want to post something. Apart from imprest, money can not be paid by an account without raising a voucher. |
Re: An Accountant Lost His Job, See Why? by Titto(f): 4:11pm On Sep 07, 2022 |
Learn to cover your actions always. Even if the oga refuses to send a written instruction, make certain you send him a confirmation email stating his instructions and what you have done, then copy another of your boss. Verbal instructions most times leads to situations like this especially when problems don shele. Email trail would have protected him. 3 Likes |