Sunday, December 4, 2011

Is it legal for company to receive & remit monies not related to the nature of business?

Monies received and remitted to/from the company bank accounts. Director (who is also a shareholder) claims that monies coming in %26amp; out are for his personal transaction|||This is not illegal - but it is a very poor business practice.





And the auditors are really going to be interested in that transaction.


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