Bakery loses $17 million in eight-year embezzlement scheme

One of the reasons it's so critical to use purchases, travel on private airplanes, and a watch and jewelry collection worth an estimated $3 million.

The Corsicana Daily Sun reported that Andrea Kim, a lawyer representing the bakery, stated the business' owners didn't use audit solutions sooner because they see their company as a family operation.

In the future, Collin Street Bakery may be able to prevent further incidents by relying on more than just trust as a financial control. After all, auditing is not something enterprises should only do when they don't have faith in their employees. Using these tools, organizations can be sure that misappropriation doesn't persist and have a significant impact on their operations.

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