Misappropriation doesn’t have to have a major impact on a company. In fact, through the use of also made unauthorized credit card purchases and ATM withdrawals.
Jim Lilly, co-owner of Elk Electric, told the source that Cayton had worked for his business for seven years and that the fraud was uncovered after she stopped coming to work after Labor Day 2011. Shortly after her absence, an employee noticed discrepancies in the firm’s online bank account records.
In the future, the organization could engage in more frequent accounts payable audits to guarantee that its finances are being accurately assessed on an ongoing basis. This could potentially prevent future crimes.