Long Island Business News
If you want to find fraud, who are you going to call? Your accountant? Not necessarily. Many people think traditional audits are likely to detect fraud. But firms hired to review financial statements rarely detect fraud, in part because it’s usually too small to catch that way. Instead of calculators, the phone, including tip lines, has proved to be the most effective tool to fight fraud, according to a recent study. The Association of Certified Fraud Examiners’ 2016 Report to the Nations on Occupational Fraud and Abuse – which essentially means fraud in the workplace – found 5 percent of annual revenues typically are drained due to fraud…
Recent Comments