Posted by: GW7AAV | March 31, 2011

RSGB financial irregularities …for everything else there is Mastercard!

A little more on the financial irregularities that caused Peter Kirby, the former RSGB General Manager to leave the Society’s employment…

I am told that the financial irregularities refer to £41,000.00 on his company credit card over 4 years. Ow!

…for everything else there is Mastercard!

Advertisements

Responses

  1. Are your financial officers bonded?

    /paul W3FIS

  2. Hi Paul,

    In answer to the question; I don’t know but I would be fairly certain that it will be the case.

    I was not entirely sure what you meant but I asked my wife and a friend and I was right in my assumption. For anyone else not sure what you mean a description from the net…

    Bonding an employee is an insurance agreement guaranteeing repayment for financial loss caused to the covered organization by the act or failure to act of an employee. Bonding is used to protect the financial operations of companies and unions. This insurance policy is intended to protect businesses from losses caused by acts of fraud or dishonesty by officers, employees, or other representatives.

    Regards Steve GW7AAV

  3. Insurance company payouts under fidelity bonding are never automatic. They will look to see if the financial controls which you said you had in place actually were in place. If they were not as declared and exercised at the time the insurance was taken out, they will not usuallly pay out. They might make some sort of good will payment in some cases where the client has been paying for years without a claim- then again they might not

    rgds

    stan G4XXI


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: