According to KLEW-TV, a woman from Pullman, Wash., recently switched her plea to embezzlement-related charges. Emily Kirk, who once worked as the treasurer for the Whitcom 9-1-1 Employee Guild, pleaded guilty to first-degree theft and forgery for stealing $14,000 from the group's accounts. The source reported that the Attorney General claims $2,700, while it normally hovered around $10,000.
There's no reason to wait when it comes to implementing more robust financial controls. Once companies begin using audit solutions to detect discrepancies, they may find themselves in much healthier shape, as the likelihood of substantial losses will decrease. Whether the problems stem from simple mistakes or are fraud-related, there is no way to correct course without first recognizing the underlying cause.
Additionally, once businesses have caught wind of missing funds, they will be able to conduct recovery audits to rectify the situation.