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Warning: New Potential Fraud Scheme

One result of these difficult times, unfortunately, cheap Cleveland Browns jerseys is the increase ?ffnungszeiten in cheap NFL jerseys employee fraud.

Jessica’s post is a timely reminder of what can happen when proper segregation of duties does Myths not exist. If you have any questions on how you can wholesale nfl jerseys implement segregation of wholesale jerseys duties in your organization, please let us know. We have a matrix that details basic steps to put a plan in place.

Kathy Hostetler, CPA

Fraud is very difficult to detect, ty but auditors wholesale jerseys are familiar with how most fraud schemes work. So I was surprised to hear of a new scheme going on these days – one conducted with the use of the many check cashing establishments that have popped up around the in valley in recent years.

Here is how the basic scheme works:

Checks arrive in the mail and go to the person responsible for entering them in the cheap jerseys accounting system. However, that employee doesn’t immediately record the check nor deposit it in the bank. Instead they take it to a check cashing kinderkoor 【事前登録】時代劇恋愛ゲーム「恋スル龍神サマ」がビジュアル系ロックバンド「己龍」と恋愛が楽しめる!メンバーのサインが入ったTシャツが抽選で当たるかも!? business and obtain a short-term loan on it. They head back cheap MLB jerseys to the cash checker days later, pay off the loan, and take the check back to the office. It is then recorded and deposited as if it was just received.

It’s difficult to know why employees would commit fraud, but, according to the 2008 Report to the Nation on Occupational Fraud & Abuse by the ACFE, gambling problems rank high on the list. The scheme fits perfectly into the equation – obtain the loan Move Friday, hit the casinos over the weekend, and pay everything back on Monday.

Organizations can prevent this fraud by segregating duties appropriately. First, have someone open the mail and log all incoming checks before distributing them. Secondly, never allow the same person that records checks in the accounting system make bank deposits. Finally, have someone reconcile monthly all bank deposits with the incoming check Partnership log to ensure that all checks received in the mail have been accounted for and deposited on a timely basis.

Jessica Sundown Puckett, CPA