Fraud is never a good thing. But during good economic times, it can easily go undetected. A perfect example was in the news recently. A cabinet company had to lay off several workers and restructure the company because of cash flow issues that were caused by the CFO allegedly embezzling millions of dollars.
An awful story, but a lesson for the rest of us. Always have controls in your business (especially when it comes to your finances) to ensure there are no opportunities for staff to take advantage of a moment of weakness. I’ve written about this plenty of times before. Here are some reminders for you.
- To Avoid Workplace Fraud, Be Proactive
Preventing fraud is easier and less expensive then actually detecting it.
- Be On The Lookout
Timely tips from CPAs to help you stay away from the courthouse and detect fraud before it eats into your cash flow.
- Is Your Small Business Being Robbed?
Employee theft now costs American businesses at least $40 billion a year.
What additonal suggestions do you have? Please leave a comment.