Do you think fraud can happen in your business?   It can if you do not have a comprehensive anti-fraud plan in place that is followed!

You may tell yourself that you work with great people whom you trust.  As a business owner, you cannot let that trust blind you to keeping your eyes open to what happens in your business.  Fraud is present wherever there is an opportunity and an incentive.

Good internal controls that are continually followed can deter and detect fraud if it happens.  Let it be known that you have internal controls in place to combat fraud and that there will be consequences if it happens.  Some controls you can implement are:

  1. Separate Duties by having one person write checks, and another sign them.  Have one person count money and prepare the deposit, and another make the deposit.
  2. Review your financials regularly and explain any variances from month to month to detect issues quickly.
  3. Secure Cash & Checks by logging and endorsing checks for deposit as received and locking cash away.
  4. Empower employees to speak up when something doesn’t feel or look right.

Ask us how we can help!

(516) 409-1120

Honorine M. Campisi, CPA