Tag Archives: preventing fraud

The Single BEST Way to Prevent Financial Fraud

Financial fraud is a bad scenario for business owners. Beyond the embarrassment or the financial loss, fraud can also result in the termination of a long-term employee. A few factors may put a company at risk; however, the primary cause is a lack of internal controls and oversight. We also find that a lack of …

Internal Fraud: A Case Study in Recovering from Disaster

Louise Tieman shares an internal fraud case study on proformative.com. This is the tale of the kind of fraud disaster that keeps CFOs up at night–and makes CEOs physically ill. This is the kind of fraud disaster that shutters the victim company most of the time. Like most internal frauds it was also completely preventable, though that …

The Single BEST way to prevent FRAUD – part two…

Let’s stick with the story of my colleague’s client who has suffered three separate embezzlements in as many years. In the last post I talked about basic internal controls for vendor payables – and there are more to consider than the one’s I mentioned. Internal controls are not sufficient in isolation, however. A clever thief …

Fraud – is it happening in YOUR Company? Part one…

I was talking to a colleague and he asked me for my thoughts regarding a particular client of his who was dealing with the issue of FRAUD. After we talked about it for a while, I realized this conversation would be very helpful to many business owners and executives who may or may not be …