
Ex-union worker faces embezzlement charges
Without the most effective audit solutions in place, it can be quite difficult to detect when employees and officials are misusing funds.
Our team helps identify, recover and prevent losses in your A/P department.
Request your assessmentWithout the most effective audit solutions in place, it can be quite difficult to detect when employees and officials are misusing funds.
Without accounts payable audits, religious organizations are just as susceptible to fraud as for-profit companies.
The lack of oversight that sometimes besets small, tight-knit operations can result in abuse of funds by trusted staff.
A recent case reminds administrators in the health field that audit solutions are essential, especially when doctors are tasked with managing finances.
No matter the trustworthiness of employees, accounts payable audits are essential as a safeguard from fraud at any firm.
The negative effects of fraud are often felt with a unique degree of intensity when embezzlement occurs in a small, close-knit community.
Lack of financial oversight can easily result in internal fraud, but monetary abuses between business partners also occur in the absence of accounts payable audits and other accounting protocols.
When firms fail to implement AP audits, the results can be grave, as one high-profile case recently made clear.
Recent reports of a long-standing misuse of funds highlighted the continued need for accounts payable audits in companies’ efforts to protect themselves from fraud perpetrated by employees.
Even at small organizations where visibility into finances should be high, fraud remains an ongoing threat, especially if effective accounts payable audit solutions are not put in place.
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