The town of Weybridge, Vermont, is in the process of deciding how they will recover funds that were stolen during an embezzlement scheme conducted by the municipality's former town clerk and treasurer. Weybridge officials are hoping to find out how much they can recollect with a recovery audit.
According to the Burlington Free Press, Karen Brisson admitted that she took between $100,000 and $150,000 from the town while she served as treasurer. After finding out about the theft, officials were devastated but quickly convened to determine how they should go about recovering the money for Weybridge and what they can do to prevent similar situations from occurring in the future. No decision has been made yet, as Weybridge is still waiting to obtain secure bank records.
The source reports that Brisson's illegal activity was discovered after other town employees noticed several financial discrepancies within Weybridge's records. An accounts payable audit was conducted shortly thereafter and Brisson quickly admitted to her embezzlement scheme. She had worked for the city for approximately 28 years, but it is not clear how long she had been stealing from Weybridge, the news source states.
On top of managing the finances for Weybridge, Brisson also worked as the treasurer for the town's school district. WCAX-TV reports that the organization stated that there is currently no evidence of any missing funds, although an accounts payable audit will be conducted to ensure there was no embezzlement.
No matter the industry, businesses and organizations can use accounts payable audit to uncover an illegal financial activity within their operations, such as duplicate payments, unauthorized purchases and other instances of misappropriation. Additionally, recovery audits can determine how much money should be recollected.