1. The person who cuts the checks and the person who signs them have to be different people.
2. Bank reconciliations have to be done every month, and the person who does them has to be different from the person who cuts the checks. If the person who signs the checks is not an owner, the person who does the bank recs should not be the person who signs the checks either.
3. As a company grows, employees should have spending limits based on their level in the company, and these should be fairly low (e.g. $25 for rank and file folks). People should approve their direct reports' spending above those limits up to their spending levels. Anything above that gets kicked up to the next level.
