It's only the large-scale abuse of finance that seem to make the news in business. Million pound embezzlements, large-scale corporate scams, political expenses scandals, or tax evasion. Financial abuse, however, probably happens in every business. "What?" you cry. "I'm no thief!". Probably you aren't, but some financial abuse is done accidentally or inadvertently, and some is just too tempting for an employee who knows they can get away with it. Here are some ways to prevent financial abuse in your workplace.

1. Control individual budgets and power

There was a story of a large corporation that gave credit cards to its employees who had to frequently make purchases on behalf of the business. They forgot to put a limit on it, however. Thankfully, no abuse took place, but in those days, if that card was stolen, an awful lot of damage could have being done before anyone was able to stop it. Always know what each individual's spending power and control is. There should be financial authorisation levels in ay business - for example, in stationery ordering. A team assistant, who orders the bulk of it, should probably have access to purchase anything on the catalogue, but be aware that the same catalogue may also contain laptops, furniture, and other things that only a manager should be authorising. If you haven't already got controls in place, these should be examined and each individual given a spend limit in the workplace. It's not that you don't trust your employees, but as in the case of the credit card being stolen, you need to put he damage control in place before anything happens, not after.

2. Have good record keeping

Every employee has more and more opportunity to spend the company money as the business gets more developed. Whether it's a company mobile phone or a charge code to cover overheads, good record keeping is a must to spot anything going awry. Ideally, limits should be set as previously mentioned, but records will help you spot patterns. It's a bore to look at lists of texts and calls made by your staff, but it may save you a lot of grief in the long run. Another example of a real-life case was when a member of cleaning staff was using the boss's landline phone to call abroad when everyone has left the office. There was no pin number set, nor was there a limit on calls. Again, this is not to distrust anyone who has access to company properly, but the records and guidelines should be in place and monitored frequently.

3. Be aware that the little things add up

In the workplace it's generally no big deal if someone accidentally takes home a few pens from the stationery cupboard, for example, but over many years and with many staff, this will add up to a surprisingly large amount. The same goes for petty cash - because it's usually not audited and not really broken down as part of a company's accounts, someone borrowing money and not paying it back because they forgot can add up over time. Think about the ways you can stop such little "leakage" from the business and address ways to fix it.

4. Have policies and stick to them

Just as there will be an internet and mobile phone use policy, there should also be a spending policy and - importantly - an expenses policy, should people in the workplace be granted such a privilege. It's normal - and acceptable - for someone to get their expenses back after working away on business. After all, you don't want your staff to be out of pocket. However if you set no limit, you may find that what they consider to be an acceptable dinner, for example, may be your idea of extravagance. Set the limits, make sure everyone is aware of the policy, and gently remind people should they be at risk of going over the set limits.

Overall, abuse is usually not intentional - these guidelines are not meant to foster suspicion or make you think that most people are dishonest with company funds. However, prevention is better than a cure, so if you can put the controls in place, you'll save the company money, and your staff a lot of grief once they know where they stand.