How a Few Internal Controls Could Have Stopped the Largest Municipal Fraud Ever

By now every good government accountant is well aware of the largest municipal fraud in American history. That is the fraud perpetrated at City of Dixon, Illinois, where the Comptroller for the City successfully misappropriated over $53 million in City funds using an elaborate scheme of transferring monies out of the Town’s Money Market account …

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Developing a Chart of Accounts

Often, I receive a request from new businesses for a sample chart of accounts.  While each chart of accounts is customized to that business, there are a few best practices that I communicate to my clients. When creating a new chart of accounts, you want to keep it simple and easy to use but also …

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Adoption of A Capitalization Policy

One of the ways a Henry & Horne auditor can add value to a client’s audit, is to provide recommendations for client staff economies in bookkeeping.  Over the past year, one of the recommendations that I have been able to make is the following: In small governments (e.g. Special Districts), an often overlooked item is the …

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