According to the Association of Certified Fraud Examiners, active detection methods (such as surprise audits or data monitoring) are far more effective than passive methods (such as confessions or notification by police). To reduce the duration of any fraud scheme and lower overall financial losses, companies should use such active detection methods as IT controls,
fight fraud Archives - Crawford Ellenbogen
Sep 4, 2019
Jul 31, 2019
Assess for fraud risk before you experience financial losses
- By Ellenbogen
- Fraud
- 0 Comments
Privately held businesses aren’t required to conduct fraud risk assessments, but you should do so anyway. In general, there are four ways employees might exploit your system: Fraudulent financial reporting, misappropriation of assets, improper expenditures and illicitly obtained revenue and assets. To prevent these schemes, interview executives and managers to ensure they’re setting the right