Many small businesses think they can’t prevent fraud. Why? There are not enough people to segregate accounting duties. Also, small businesses may feel like they don’t know how to prevent fraud (even if they had more people).
Here are ten ways to lessen the threat of fraud regardless of your company’s size. But these suggestions are even more important for the small business that has a limited number of employees.
Check these suggestions out to save yourself plenty of heartaches.
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Charles Hall is a practicing CPA and Certified Fraud Examiner. For the last thirty years, he has primarily audited governments, nonprofits, and small businesses.He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. He frequently speaks at continuing education events.Charles is the quality control partner for McNair, McLemore, Middlebrooks & Co. where he provides daily audit and accounting assistance to over 65 CPAs. In addition, he consults with other CPA firms, assisting them with auditing and accounting issues.
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