In any situation where individuals have been given access to large amounts of money, there is likely a need for close, objective monitoring. A Linden, Michigan sporting club recently learned the importance of audit solutions when one of its officials was discovered as the source of disappearing funds.
According to M Live, Steven Fowler abused his position as president of the Linden Sportsman Club to embezzle more than $10,000 from the organization's accounts. He faces up to five years in prison, in addition to potential fines equal to the amount he took. It is possible that audit solutions were not implemented sooner because Fowler was a leader in the club.
"I think members have confidence in the person [in charge] and they don't do their checks and balances," Genesee County Sheriff Robert Pickell told the Tri-County Times.
The money in the account Fowler stole from was intended for purchases to benefit the entire club, including in emergency circumstances, the source explained. Instead, Fowler used the money to buy gas and fund hotel stays.
Audit solutions can help catch incidents like these before they take a toll on businesses' ability to perform essential operations.