CFO suspended on embezzlement accusation

For any organization that works closely with vendors, misappropriation can have far-reaching effects. When companies leverage, a spokesperson for Crisis Ministries, told the news provider. “She may have created duplicate payments that mirrored the legitimate vendor payments, or fabricated payments with no associated invoice.”

The Office of Internal Audit at Wayne State University advised that businesses may be able to identity certain red flags when embezzlement is present. For example, it may be a wise idea to look into the health of certain accounts if employees refuse vacations or promotions, which would allow others to check the books in their absence, or frequently rewrite the books under the pretense of neatness, which could be signal that alterations are being made. If any suspicions arise, using audit solutions may be able to catch any instances of fraud before they add up.

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