Daniel Cullinane CPA
25 Plaza 5 25th fl Jersey City NJ phone 732-516-1648 fax 732-516-9778
2500 Plaza 5 25th fl Jersey City NJ 07311 phone 732-516-1648 fax 732-516-9778
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An accountant insists that he or she handle activities for which other departments are normally responsible. These can include picking up the mail or acting as the sole go between with the company's financial contacts.
An accountant continually misfiles important items such as payroll receipts, deposit records, supplier correspondence and estimates.
Deposits frequently seem too small. Owners should always carefully monitor income and deposits, comparing sales against actual deposits.
Usually, there are no sure fire tip offs to internal accounting fraud. By being on the lookout for any of the seven danger signs, a small business can avert a potentally disastrous and embarrassing financial loss.
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Many small business owners feel that their companies are immune to internal accounting fraud and embezzlement for two reasons: they do not have many employees, and the ones who deal with money are usually close to the owners. Regardless of size, any business is vulnerable to fraudulent activities by employees. Following up on signs of fraud can stop accounting theft, saving a company from financial loss or ruin. The signs are: