Embezzlement is no laughing matter – not to the small business owner and not to the embezzler, who often starts out very innocently with a temporary loan s/he fully intends to repay.
2018 Report to the Nations. Copyright 2018 by the Association of Certified Fraud Examiners, Inc.
- Does the phrase “trust but verify” seem more relevant to your life?
- FORENSICS is the fastest growing department for the Police and Accounting Industries.
- FYI: do a GOOGLE search for “embezzlement” and you’ll find there over 15,900,000 pages that match that search!
Identity and Asset theft are now BIG BUSINESS. Just ask LIFE LOCK. Small business embezzlement is more insidious than identity theft. WHY?????
When the person that steals your identity is caught – you will prosecute. If the person embezzling from you is smart – you will not catch them. But on the improbable chance that you do catch your embezzler, you will NOT prosecute – they know you don’t want to appear on page 1 of the local paper’s business section which would endanger your revenue streams. Who wants to do business with a company that is too naïve to protect themselves?
Google small business embezzlement and you will get dozens of detection techniques BUT upon closer inspection, you discover that these recommendations can be easily implemented by larger businesses but not by small businesses. So they are useless to you.
AUDITORS INC. has produced guidelines that will detect embezzlement within 3-6 months of the event. So how did we derive these procedures? We knew there had to be something easier and much more affordable than a forensic audit which is what CPA’s offer. This is not rocket science. It simply took someone (Auditors Inc.) that knew how to reduce a set of books to its lowest common denominator and then ask a few questions – how can this type of theft be stopped .
Auditors Inc. GUARANTEES that if we say there has been no embezzlement – that’s the bottom line!