Are the people who work for you honest? Of course – or are they?
Internal controls are designed to keep your business safe. No matter how honest people are, when they get into trouble, it’s just a short step from borrowing $20 from petty cash to issuing a check to themselves (or a fake company) and signing it. Even if they’re just “borrowing” from you, it’s still theft.
Every year, owners discover that the office manager they trusted has been writing checks to themselves for $1,000 to $10,000 a month for the last 10 years. The losses run from thousands to millions.
How do you protect yourself from the honest employee that ended up with too much month left at the end of their money?
These small steps will protect your net income and your bank account. Remember, every situation starts out small. Track your money, and you’ll keep it on your bottom line and in your pocket.
How Does Corporate Fraud Happen? Today, corporate fraud happens all too often. Within small to medium-sized businesses, fraud is particularly
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