Internal Audit - No Proof of Acceptance of Customer New Payment Terms

Wes Bucey

Prophet of Profit
Top Boss Knows about this :(

As i said in my previous emails the authorisation to process orders without payments (although customers agreed on payments in advance ...but are not paying ) is coming from Top Management ( more specifically the cOO)


However this approval is VERBAL and no formal proof of its authorisation exists

I was trying with this non conformity to force them to take corrective actions about it :( :( :(
Here's another gem:
I don't know of any company where Chief Operating Officer is the TOP boss. CEO and Chairman and Board of Directors (if a corporation) outrank the COO.

Frankly, this is just the same lame bovine-originated manure we've heard for years about plant managers and COOs telling underlings to ship bad product, but not signing personally to OKAY the shipment. They get paid on gross production, not on net profit. Same thing with sales staff and their manager.

If the CEO also agrees to give his customer free money AFTER he bargained one price based on payment in advance, then you should start referring to my job threads now, because that action by a CEO will lead to some cost cutting elsewhere and internal auditors usually go first in a mismanaged company.
 
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