Some politicians treat government funds their own

As President Marcos is tightening his grip over the investigation of ghosts, substandard and incomplete government-funded projects, public clamor for axes to fall on the culprits’ heads mount. As public support is there, the chances that the appropriate disposition of these cases will see the light of day is high.

- Fidel O. Abalos

Essentially, whether in business or government, good governance must always come into play. For instance, in business, to safeguard company’s assets, internal control system is established and made sure to be adequate. To ensure success, the internal control system is structured to have both basic and supervisory controls. With this in mind, the company’s organizational structure is so designed that each person does not handle incompatible functions. It is established in a way that the internal control’s cardinal rule of segregation of duties is well observed and checks and balances are assured.

On top of these, most companies made it a policy that their personnel are rotated periodically to ensure that the work of one person shall be reviewed and accountabilities established upon turnover. To some extent, some companies even make it a policy to have unannounced leaves or forced leaves on custodians of funds or those with influences over some company funds just to make sure that should anomalies exist, they could no longer tamper evidences.