Contractor’s Toolbox – Solid internal controls can help fight fraud
Abstract: Employee fraud, theft and embezzlement are costly problems for all businesses. According to the Association of Certified Fraud Examiners’ 2012 Report to the Nations on Occupational Fraud and Abuse, the typical organization loses 5% of its revenue to fraud each year. And construction companies are among the hardest hit, with a median loss of $300,000. This article lists ways that contractors can tighten their internal controls.