AP audit reveals $96,000 embezzlement by former treasurer

The former treasurer of a rescue squad in Etowah County, Alabama, has been arrested for his involvement in an embezzlement scheme, in which he stole more than $96,000 from the organization.

According to The Gadsden Times, Josiah Hickman was a volunteer and served as treasurer for the Etowah County Rescue Squad before being charged with one count of first-degree theft by deception. An accounts payable audit revealed that Hickman stole approximately $96,652 over a period of 18 months.

Al.com reports that Hickman embezzled the funds from the rescue group's accounts by creating unauthorized checks and forging signatures and also by using a debit card under the name of the Etowah County Rescue Squad. He then spent the money he collected from the illegal activity on personal purchases at several stores within the local region, the news source states.

Businesses and organizations can use accounts payable audits to uncover any instances of misappropriation, embezzlement or other financial discrepancies such as duplicate payments. Recovery audits give executives the ability to discover how much money has been stolen and what steps they can take to collect the missing funds.

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