An AP audit can reveal a wealth of information. If effective financial control strategies are in place, these processes can confirm that a company is running smoothly. However, if this isn’t the case, these solutions can show leaks through which money is escaping, whether by insufficient management techniques or internal fraud.
According to the Atlanta Journal-Constitution, Donald Thomas, a former payroll director at the Grady Memorial Hospital in Atlanta, was indicted for pay issued to other employees. Additionally, he allegedly falsified checks made payable to past employees, which were deposited into his personal account.
The news provider added that Thomas is also accused of altering the hospital’s payroll records to cover up the crimes.
The Texas Medical Association advised that for healthcare practices to thwart embezzlement, precautions need to be taken. The source advised using detailed record-keeping methods, segregating employee duties and taking control over who has the authority to sign checks. Additionally, using audit solutions at least once per year can better the chances that any problems will be detected – or even deterred.