Another case of fraud committed by a former bank employee brought to light the need for accounts payable recovery audits at organizations that handle consumers’ money.
Employee fraud can have disastrous consequences for small businesses – and without financial audit solutions, it can be very difficult to detect discrepancies in accounting.
There are many responsibilities involved in running a business successfully, but maintaining strong control over accounts payable is among the most critical.
Embezzlement is a crime that many business leaders think will never affect them.
The recession forced many businesses to make deep staff cuts, and accounting departments were certainly not spared.