Fraud Gets the Better of American Companies

CPAs and accounting professionals familiar with the dramatic influx of fraud on today's business know how devastating this mishap can be, even on the very small company.

Fraud isn't going away any time soon. In fact, fraud is adding up to more than $400 billion annually, and more often than not, involves the theft of money in some form or fashion.

What can be done to limit fraud? Experts say background checks on personnel who come in direct contact with funds is a way to start. Also of paramount importance is tighter controls and increased oversight from the CPA and the company owner.


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Nov 24This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 9Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.