Posts Tagged ‘employee fraud’

Does Your Company Have Solid Internal Controls?

Thursday, October 24th, 2013

Let’s admit it… we all want to be able to trust other people. And we generally do…until we’re proven wrong. Owners of small, family-owned businesses are no different, and must put their trust in someone to handle their revenue, disbursements, payroll and inventory, among other financial functions.  (more…)

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How Do You Stop School Credit Card Fraud?

Tuesday, October 9th, 2012

Is your school struggling with declining funding? If so, you’re probably worried about the top line. You’re closely watching what’s coming in. You’re exploring ways to generate revenue. But, you need to be equally worried about what’s going out.

Credit cards are one of the most common ways for funds to escape your district. This type of fraud is particularly destructive because it tends to be long-term, continuous and difficult to spot. Employee fraud is like a hole in a bucket – no matter how much water you add, slowly but surely, the water level keeps going down. However, if you understand where fraud may be taking place, you can take steps to deter it. (more…)

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Fraud Prevention Through Risk Assessment

Thursday, July 5th, 2012

All too often, school clients come to us asking about fraud detection. But, needing fraud detection implies that there’s fraud to detect. Clients should really be asking us about fraud prevention. A proactive approach to fraud prevention, rather than a reactive approach to fraud, helps schools to stop fraud in its tracks.

One of the most important parts of fraud prevention is risk assessment. Determining your organization’s high risk areas will allow you to focus your efforts on the areas where they’ll be most effective – giving you the best bang for your buck. (more…)

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Where does Fraud Happen?

Thursday, May 31st, 2012

When we speak to clients about fraud prevention, they’re often overwhelmed. They often think they can’t possibly be watching every part of their operations all the time. Fraud doesn’t occur equally in all parts of an organization’s operation and is often committed in the same ways: false invoicing, fake vendors and inappropriate employee expense reimbursements. By watching for easy-to-spot signs in each of these areas, organizations can go a long way towards preventing fraud. (more…)

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How do you identify potential fraudsters?

Monday, May 7th, 2012

As auditors, we often hear about fraud after the fact. We’re asked to investigate what went wrong and how it happened. Organizations should not wait until after the fact to identify fraud. Through risk assessment and management processes, organizations can identify potential fraud and act to prevent it. (more…)

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