How to Prevent Fraud in a Small Business

Small businesses are the most vulnerable to occupational fraud and abuse, according to the Association for Certified Fraud Examiners (ACFE). In its 2002 Report to the Nation on Occupational Fraud and Abuse, ACFE cites that the smallest organizations, 100 employees or less, suffered higher median losses than did the largest organizations (10,000 employees or more). While the largest companies suffered losses of … Read More

Small Business Fraud – The Trusted Employee

Small businesses have it rough. They’re particularly vulnerable to fraud because they lack the resources to implement complete systems of internal controls and properly segregate accounting duties among their limited staffs. The following is a scenario seen all too often… Bob and his brother, Bill, owners and operators of Acme Tractor for 30 years, were close to retirement. A local … Read More

Congratulations to Brad Kanter on his CFE Certification!

According to the ACFE, the designation Certified Fraud Examiner (CFE) is “Recognized as the ‘Gold Standard” and requires a comprehensive understanding of the following major disciplines of fraud examination: 1. Fraud Prevention and Deterrence 2. Financial Transactions and Fraud Schemes 3. Investigation 4. Law/Litigation Questions for Management: Are you vulnerable to fraud? Do you have adequate controls in place to … Read More