Business leaders spend most of their time and energy assessing risks and weighing them against possible rewards. Unfortunately, many leaders overlook one of the most common challenges facing businesses today — the risk of occupational fraud. To build a successful business that stands above its competition, you need a solid foundation of controls to deter [...]
Employee fraud is never an easy topic to discuss, but it’s especially hard to talk about with the owners of small businesses, where employees often feel more like family. While it’s counterproductive to spend every day looking at your employees and wondering who is stealing from you, implementing checks and balances on your employees can [...]
What is one of the things that most businesses, not-for-profit organizations, and governments have in common? Unfortunately, it’s susceptibility to employee fraud, for which these three employee fraud red flags should be helpful when trying to detect it. Why does this topic deserve your focus? Because according to the ACFE’s 2014 Report to [...]
Are you considering filing a business lawsuit? If so, then your first call should be to your CPA instead of your lawyer. Why? Litigation is expensive and it's important to estimate damages to determine if a lawsuit is cost-effective. Watch Miles Harper discuss three ways your CPA can help you determine the value [...]
The average business loses 6% of their revenue to fraud every 18 months. How can your business deter employee fraud? Watch Mike Scott and Tommie Singleton discuss fraud warning signs and the importance of management's role in fraud prevention.
Can you spot a fraudster? Probably not. Fraudsters don't look like criminals. They look like your next door neighbor. Watch CRI's Tommie Singleton discuss the profile of a fraudster.
When it comes to stealing individuals’ identities, criminals get more creative every day. Several clients have called us recently as they have received IRS letters asking questions regarding tax returns that they didn’t file. It usually turns out that a thief has stolen these clients’ identities and used the information to file fraudulent income tax [...]
Whether stolen assets include cash, products, raw materials, or personal property, many business operators are satisfied with what they consider an “acceptable” level of loss. In fact, they refer to this level as a cost of doing business. The cost of investigating a fraudulent loss and obtaining legal evidence is probably incidental compared to the [...]
Fraud examiners are acutely aware of the potential threats that can wreak havoc on different businesses. More importantly, they are familiar with warning signs and act quickly to prevent further damage. Businesses also have natural enemies – often times these enemies are employees that commit occupational fraud. 3 Main Categories of Occupational Fraud The Association of [...]
Employee fraud almost always exhibits red flags. Sometimes those red flags go unnoticed, but that does not have to be the case. Individuals with fiduciary responsibilities can learn to recognize some of the common red flags that may indicate fraud. Reading Potential Red Flags Large Items in Account Reconciliations First, account reconciliations can reveal red [...]