Oversight Is Needed To Mitigate Occupational Fraud

To maintain the integrity and profit of a business, preventative measures must be taken. There are many forms of occupational fraud ranging from theft of company supplies to sophisticated financial statement fraud. The median loss for these forms of fraud range  anywhere between $114,000 and $800,000. As a privately-owned business this type of financial hit could be detrimental to the future of the company.

Director Laurie Gatten shared with Smart Business specific ways to prevent and detect occupational fraud. In this article you will see a list of red flags, are these happening in your business?

At Barnes Wendling CPAs our advisors understand the importance of prevention and will work with you to establish, implement, and execute a plan to protect your business, listen in to our Occupational Fraud webinar to learn more about the types and tactics for detection.

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