When organizations don't take the time to monitor their money, they run the risk of letting misconduct slip under the radar. By using audit solutions, many enterprises can take control of financial outcomes and, in some cases, even prevent theft before it happens.
According to Delaware Online, a Wilmington municipal employee was recently accused of embezzling thousands of dollars from city accounts as discovered by an accounts payable audit. Donnae Park, who formerly served as the account entry clerk for the community's Finance Department, was charged with multiple counts of felony theft, tampering with public records and forgery on suspicion of stealing $31,000.
The source explained that it took a year before other city workers realized there were inaccuracies in the records for accounts Park was responsible for. Police claimed that Park made out 19 fraudulent checks over that time period, disguising them as vendor payments before cashing them herself.
Demand Media pointed out that using audit solutions has a number of important benefits. While they can help catch and even deter fraud, these measures are also useful in other ways. By doing official checks for accuracy, companies can better guarantee the legitimacy of their financial records and address budgetary issues before they take a toll on bottom lines.