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Category: Risk Management

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January 31, 2022
How Cash Flow Statements Help Experts Find Fraud

Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. If you suspect occupational fraud and requ...

January 3, 2022
Commission Fraud: When Salespeople Get Paid More than They’ve Earned

When structured and managed correctly, a commission program can boost employee compensation and morale. But it also can tempt salespeople to commit fraud. Here’s how to contain the threat....

October 25, 2021
How Business Owners Can Comply with New Financial Crime Regulation

Earlier this year, the Corporate Transparency Act (CTA) became the latest law intended to foil financial crime. This law is part of the National Defense Authorization Act and requires certain entities to disclose the identities of those who own or control it....

August 2, 2021
Gift or Kickback? It’s a Fine Line.

Your employees shouldn’t accept any gift offered with the intent to improperly influence business decisions — or even one that merely appears to compromise their ability to act in your company’s best interests. Unfortunately, kickbacks are often disguised as gifts or t...

June 29, 2021
2021 Dirty Dozen Tax Scams

The IRS released its annual “Dirty Dozen” tax scams for 2021 on June 28th. One of the key provisions of this announcement is the IRS this year made its Identity Protection PIN program available to all taxpayers. ...

June 1, 2021
Cash Talks — and Fraud Experts are Listening

Fraud perpetrators take whatever they can get their hands on. But they generally prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even cash-based theft....

March 22, 2021
The Interview Before the Fraud Interview

If you suspect occupational fraud but have little information or evidence, you may want to conduct preliminary information interviews. But be sure to leave hostile or evasive employees to the fraud experts....

February 22, 2021
Fraud Still Matters When Making Business Acquisitions

The COVID-19 pandemic has often made the due diligence process for business acquisitions more complex and time-consuming. But if you’re buying a company, it’s critical to dedicate your full attention to this part of the M&A process — not only to confirm that the sellin...

February 8, 2021
Receivables Can Mean Fraud Risk — Here’s How to Reduce it

One of the most common routes for occupational fraud perpetrators runs through the accounts receivable department. Unless you’re aware of these schemes and take steps to prevent them, your business could face serious financial losses. Here’s some steps to mitigate risk o...

January 26, 2021
Put Employees to Work Fighting Fraud

You may have the best internal controls in the business world, but if your employees don’t follow them, your company is at serious risk for fraud. The same is true if workers aren’t aware of your company’s risks and can’t recognize red flags. The solution? Educate th...

November 2, 2020
Controls Are Ineffective When Managers Go Rogue

Management overrides of internal controls can make your company more vulnerable to fraud. This is true even when managers have innocent intentions — for example, they don’t feel they have time to follow proper accounts payable procedures because a vendor is requesting im...

October 28, 2020
Nonprofits: Internal Audits Still Matter

On its most basic level, the internal audit function provides assurance of compliance with a nonprofit’s internal controls and their effectiveness in mitigating financial and operational risk. Potential risks include fraud, insufficient funds to support programming and rep...