WNDE FRAUD DETECTION AND PREVENTION SERIES
Fraud Detection and Prevention
Dishonesty and unethical business practices are common in the business environment. For example, the Association of Certified Fraud Examiners estimates that a typical organization loses about 5% of its revenues each year to occupational fraud. Accordingly, fraud is an ever-present risk to businesses.
As a service to our clients, WNDE will feature a series of articles over the next year on fraud detection and prevention. Noted below are the subjects that we will be featured in our 2017 newsletters:
- Red flags that fraud may be occurring at your business
- How to develop a successful fraud prevention program
- Developing a fraud “hotline” that employees can trust
- Basic controls over wire transfers
- Illustration of basic controls over wire transfers
- Controls over Automated Clearing House (ACH) transactions
- Controls over cash registers and cash receipts
- Detection and prevention of purchasing fraud
- Use of “data analytics” to detect or prevent purchasing fraud
- Key controls to prevent inventory fraud.
At the end of this series, you should have a clear set of fraud detection and prevention tips that will help strengthen your business practices and reduce losses that may occur from fraud.
White Nelson Diehl Evans is a leading accounting and consulting firm in Southern California, providing tax, accounting and advisory services to thousands of clients. We are proud of our reputation for quality, integrity and balance, built over nine decades of professional service to privately-held companies, governmental entities, nonprofit organizations and wealthy individuals. Our firm dedicates itself to the highest standard of quality, delivering great value and peace of mind to our clients. Constant communication and extensive planning are the hallmarks of our practice which help us provide only the highest quality customer service to our clients.