in
this issue
The
Fraud Tax - Small Businesses are an Easy Target
Employee theft. Embezzlement. Fraud, Occupational Fraud.
Misappropriation. These are nasty little words that describe a
rising epidemic in today's workplace. Consider yourself lucky
if your company has not been a victim. In fact, most small
businesses believe they are immune. Recent studies have shed
light on a scary truth -- small business are easy targets and
the average fraud loss for a small business is 25% more than
the average loss of a large business.
Small businesses are an easy target because most have a
small accounting department where it is nearly impossible to
create effective controls. It is not just the number of people
but the oversight required to test and monitor the controls
that explains the lack of controls. Large businesses, on the
other hand, establish appropriate controls and typically have
annual audits testing these controls.
The temptation to raid the cookie jar can be great in a
small business without appropriate controls serving as a
shield and a deterrent. Unfortunately this lack of controls
also makes detection more difficult. The average dip into the
cookie jar exceeds $100,000 in fraud loss. Yowser. Also
consider that companies with 1-99 employees represent 39% of
all fraud losses.
A good way to learn more about controls is from your
accountant who can help get you started by educating you about
numerous fraudulent schemes and demonstrate where you are the
most exposed. OnePoint can also perform a review of your
controls and make recommendations. Outsourcing accounting
functions to a professional, bonded outsourcing provider is an
excellent way to minimize or prevent fraud.
Download
Recent Article with 5 Tips to Prevent Fraud
Quick
Links...
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Building a Web Site? The Top Six Questions to
Ask Your Web Developer Before You Start
If you want to be totally satisfied with the results
your company's new web presence, it is critical that
you educate yourself on the world of web sites. This
way you will know exactly what to ask for and
understand exactly what you are getting.
Before you hire, ask your developer these
questions: (1.) Can you give me the same
"look" as some of my favorite Web Sites?
(2.) Will customers with slow Internet connections be
able to access my site? (3.) Will you test for
cross-browser and cross-platform issues? (4.) Will my
contact information be easily available from every
page? (5.) What kind of search engine optimization do
you offer? (6.) What will you charge to maintain my
Web site?
For complete information on what to think about
before hiring a web developer, go to http://www.theuptimegroup.com/education.
Contributed by Patty Lauschman, The Uptime Group,
Inc.
To
Download Business Web Site Planning Guide »
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"New" Non-Profit Accounting & Tax
Newsletter
We are proud to introduce a new Accounting & Tax
Newsletter specifically aimed at Non-Profits. This new
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have news and information valuable to non-profit
entities and their strategic partners.
To subscribe to this newsletter, please click on
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