Accounts payable audit identifies embezzlement

An internal accounts payable audit recently revealed that an employee at liquid dispensing equipment manufacturer Hibar Systems allegedly stole $2.2 million from the company, Durham Region News reports.

Lynda Janet Dingwell – a senior employee in the company's accounts payable department – was recently accused of manipulating accounting records and making duplicate payments.

Detective Fred Kerr of the York Regional Police's major fraud unit told the media outlet that Dingwell "left a great trail, except nobody caught it in the firm for quite awhile."

Discrepancies in the company's financials went back as far as 2006.

Dingwell, who had worked for the company's Richmond Hill, Ontario-based office for 24 years, was charged with fraud over $5,000, theft over $5,000, and money laundering.

The Burlington Free Press explains that conducting regular internal accounts payable audits can help employers to identify and address embezzlement earlier, which could minimize losses. Additionally, if employees are aware that audits are conducted often, they may be less likely to attempt to steal from the company. 

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