In-depth analysis of financial records can save businesses money as the research pinpoints areas where funds can be cut and where fiscal solutions can be used. Further study in the form of accounts payable audits can highlight any evidence of misappropriation so companies can determine where money is missing and how they can go about recovering it.
A former bookkeeper in Three Forks, Montana, is being accused of embezzling more than $30,000 from her employer after an AP audit uncovered her theft, according to the Bozeman Daily Chronicle. Brandie Wick worked for Big Sky Masonry and was in charge of maintaining the company's financial records. In late November 2010, it was revealed that Wick had been stealing from the business, and she was subsequently fired. Evidence of embezzlement was first discovered when Big Sky Masonry's owner Phil Cox noticed that Wick had been paid for hours that she did not work. An investigation in the company's finances was then launched, the news source states.
In a separate article, the Bozeman Daily Chronicle reports that Wick is accused of writing 47 unauthorized checks from the business' accounts to herself. She also is believed to have made two electronic fund transfers and several purchases on the credit card issued to Big Sky Masonry. These credit card payments included receipts for items such as cigarettes and alcohol, the investigation revealed. In all, Wick is accused of embezzling approximately $34,651.
To hide her illegal activity, authorities allege that Wick altered the company's accounting software records to make it seem as though the check payments were made to other individuals and businesses, the news source notes. Investigators are not sure how long the embezzlement scheme spanned, but Wick was hired by Big Sky Masonry in May 2007 and it may have began then.