An Ounce of Prevention is better than a pound of Cure

What can be done to prevent fraud? What to do if there is suspicion of fraud?

“Small organizations had a significantly lower implementation rate of anti-fraud controls than large organizations. This gap in fraud prevention and detection coverage leaves small organizations extremely susceptible to frauds that can cause significant damage to their limited resources.” -Report To The Nations, 2016

Humans are an essential part of every workforce. Each employee has a life outside of work which is of little interest to the business at large. Challenges in someone’s circumstances away from the job, however, sometimes create pressure that leads to fraud. Our mission and promise to you are to minimize the opportunity that employees have to utilize company assets to alleviate their burdens.

We base our methods on the most recent publications in the field of forensic accounting regarding effectiveness and costliness. Fraud is prevalent in all business sizes. According to the Report To The Nations, 2016, small businesses had a median loss of $150,000 in 2016 and significantly lower internal fraud controls in place. Another interesting fact from the same report was that 9% of U.S. businesses that fell prey to fraud received fines for having insufficient controls in place to prevent such activity. Limited security makes it harder to recover damages in the instance of theft. It is also difficult to legally pursue the culprit who may pursue a similar position at another company and commence with the same pattern of deception.

Our goal is it to create awareness among employees about what fraud entails. We also want to put potential thieves on notice that the company is in the process of strengthening existing procedures to reduce the risk of fraud exposure.

Explore with us fast and easy ways to improve your current status quo so your assets can be used to contribute to the ongoing success of your business. We thoroughly record our efforts to keep on file so that you can see the actions that we are taking to prevent fraud in your firm.