Deterring financial fraud
Abstract: The Association of Certified Fraud Examiners estimates that employee fraud accounts for around $638 billion in losses each year, with most fraudulent acts being committed by trusted employees. Employees engage in a variety of financial crimes against their employers, ranging from fraudulent billing to misappropriating assets. There are no sure-fire methods for stopping these acts, but there are precautions you can take to help protect your firm. This article reviews strategies, including recognizing the signs of danger, separating accounting functions and partnering with your CPA.