filed in Fraud on Feb.02, 2010
At our first Lunch & Learn seminar of 2010 (Fraud Issues in Nonprofits), we went over some “red flag behavior” that organizations should take note of in their employees. These indicators are so important because they often reflect some bigger problems happening within the accounting department – including errors and fraud. I thought I’d share [...]
filed in Fraud, financial statements on Nov.24, 2009
Late in September, Colette Kamps blogged about a Check Signer’s Responsibilities. The complimentary control to this cash disbursement control is a monthly bank reconciliation, along with a review of the reconciliation by someone other than the preparer. For some organizations that already have bank reconciliations, we commend you. However, if nobody but the person who prepared them [...]
filed in Fraud, Money on Feb.10, 2009
It’s common knowledge that all bank accounts should be reconciled on a timely basis. It also makes perfect sense for someone other than the person responsible for writing checks to be in charge of doing the reconciliations. However, a proper reconciliation is more than that. It also includes critical steps that look for check fraud [...]
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