One of the biggest challenges to resolving misappropriation in accounts payable is that oftentimes, employees in charge of financial management are at the root of the issues. By using objective tools such as upward of 50 vehicles.
The source noted that while the store survived the incident, the embezzlement took a major toll on its operations. In fact, the chain needed to cut its staff, pay and benefits.
WOOD-TV, which pointed out that Pratt served as the comptroller for the company, explained that the former employee obtained the money through unauthorized transfers and checks.
Protecting against fraud isn't always simple, but ensuring the health of a business' finances is possible with the frequent use of accounts payable audits. The closer enterprise leaders monitor their firms' finances, the lower the likelihood that embezzlement will go undetected.