Fraud

How to work with a forensic accountant

Forensic accountants are professionals who have received specialized training to uncover fraud and protect against fraud threats. They’re uniquely qualified to review financial statements and business records and to interview employees to find evidence of misrepresentations and theft. In many cases, they’re able to help recover missing funds. So if you suspect fraud and possibly […]

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What you can do to prevent fraud in your construction company

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse, construction companies affected by fraud lose a median $200,000 per fraud incident, compared with $125,000 per incident for all organizations. […]

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Prevent conflicts of interest from costing your business

Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all require a certain level of trust. However, too much trust can lead to occupational fraud and conflicts of interest. To maintain the proper balance, establish a policy that outlines your disclosure […]

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How fraud perpetrators target military personnel and veterans

According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered big financial losses to fraud last year. In fact, in 2020, military consumers lost more than the general public to fraud — a median $600 compared to $311 for nonmilitary […]

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Fraud Lurks: Business Risk Assessment – For YOUR Business

This is the fifth installment of our “Fraud Lurks” series.  Like any good mini-series, each article can stand on its own but is most valuable when read in context with the earlier articles.  This month we will build on the premise that all businesses should conduct a Business Risk Assessment and make certain internal controls […]

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