filed in Fraud on Oct.13, 2009
Has your organization had to do a layoff for furlough due to the current state of the economy? It’s not uncommon for many organizations to deal with unstable times through some type of workforce reduction. While reducing your workforce will save money in employee salaries and benefits, it’s essential that organizations assess their current state [...]
filed in Fraud on Sep.29, 2009
Most businesses know that segregation of duties is an essential internal control within the accounting function. So, normally, the person with check signing authority is someone different from the person generating the checks within the accounting program. But this example of segregation of duties only works well if the check signer provides the necessary oversight [...]
filed in Fraud on Sep.15, 2009
One common recommendation we make to our audit clients is to establish a formal written fraud risk management program. Such a program should require the performance of fraud prevention procedures which can have the advantage of decreasing the risk of fraud from actually occurring in the future.
A fraud risk management program should require a fraud [...]
filed in Fraud on Aug.04, 2009
Fraud - n. A deception deliberately practiced in order to secure unfair or unlawful gain.
While a financial statement audit is not designed to detect fraud, it is one aspect of the company that any auditor is going to consider. In fact, most engagement letters and the corresponding representation letter you will provide to your auditor [...]
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