Antifraud Tips for Accounting Professionals

Later this morning, I'll be delivering a variation of my "Preventing and Detecting Workplace Fraud" presentation to 40-50 accounting managers and project accountants who work for a publicly-held, global real estate services company. I'll give up-front emphasis to the following points:

1. As financial professionals, we are responsible for safeguarding employer (or client) assets.
2. Fraud prevention is much less costly than fraud detection and investigation.
3. The field of occupational fraud and abuse is extremely interesting...and rewarding.

I didn't grasp these concepts until after I'd been a professional accountant for over twenty years. After working on a few embezzlement cases, I decided to learn more about fraud prevention...so I could better advise my clients. As my knowledge progressed, I became a Certified Fraud Examiner and have now worked on 20-30 fraud and internal controls-related cases. I'm still learning about this exciting field and enjoy teaching others whenever I get the chance. In today's session, I'll address a broad array of fraud topics and will conclude with Ten Antifraud Suggestions.

Comments

[Tessa Carroll]

Thanks so much for sharing your Ten Antifraud Tips, Jeff. When it comes down to it, yes, prevention is less costly than detection and investigation and everyone on your accounting/bookkeeping staff needs to be aware of how to stop fraud before it starts.

Tessa Carroll
www.blogs.vbpoutsourcing.com

[Jeff]

Tessa...I appreciate you reading my blog and want to thank you for taking the time to post your comment. I'll take a more detailed look at your blog very soon.

Jeff

[accounting classes los angeles]

Sounds like a great presentation. Are your lectures available to the public or must you be invited to attend?

[Jeff]

Accounting clssses...My talks are typically presented to organizational groups that invite me to speak. At some point in the future I may offer something for the general public. If you might be interested in having me give a session for your classes or other groups, just let me know. Thanks for reading my blog...and for taking the time to provide your comment!

Jeff

[accounting software systems]

Yeah. Keep us updated on when you are available in public seminars for others to know about your tips.

-kim

[Accounting Jobs Michigan CEO]

"The field of occupational fraud and abuse is extremely interesting...and rewarding."

Also to mention that culprits are also among us!

[Austin SEO]

This are very helpful tips. On our business we need to make sure that everything that we've got are in safe hands by knowing your employees well too.

[Austin SEO]

Very helpful tips. Our company should be protected from fraud. We need to make sure that each employee that we hire can be trusted and have a good background.

[Katie]

Thank you so much for helping us with fraud prevention. It's nice to have someone help us out when we need it. It's terrible that we actually need to have tips on fraud prevention though. In the long run though, prevention can always be less costly and less time consuming if we start preventing and not ignoring the problems of fraud that we face today.

[accountant finder]

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[accounting firm]

Being a CPA in a small accounting firm ... I have been the victim of a few blogs. Some times its quite hard to catch a fraud because the one who is committing a fraud is also a pro. You have provided me the solid information for how to deal with these kind of fraud pro's. Thanks for sharing the ideas.

[Darcy Grubaugh]

I always have my accountant double check for any fraud. We're using a very good software called Peachtree Quantum. It's making our accounting tasks a lot easier than ever. It's newest version, the Peachtree Quantum 2011, is already out in the market. This is a good tool for accounting.

Anyway, even if the accounting has been done using a software, one should always double check for any mistakes or false declarations included. Thanks for sharing your tips!

[WebsitesForAccountants]

This has been a very helpful blog post to teach about fraud prevention. It has really helped teach our CPAs about what to look out for.

[computer contractor]

A business owner always likes to go for responsible personnel and to keep his/ her assets secure from any fraud. How to get rid of these frauds; seems to be one of the important questions.

Here comes the idea of Enterprise resource planning to create a less paperwork, safe and secure environment for the employees working in the industry.

In my previous job I was working with some spinning industry as MIS Manager and I can say that ERP is best solution for all kind of industries who want to be secure with in a positive way.

[shredding Houston]

Fraudulent people are getting more and more craftier with their ways in accessing other people's credit or medical accounts. If this solution will be proven effective, then we will not only minimize the incidence of fraud but we will also reduce the wastage of paper being used as receipts because there are those who do not even make the time to have their personal document shredded or properly disposed of.

[Nike Air Jordans]

Honesty is the moral foundation of society.

[Accounting]

Thanks for the great post! You make the Accounting society so vigilant. I have also read Forensic Accounting and it really is an eye opener.

[BlogFront]

Hi Jeff,

BlogFront.org is committed to uphold the quality standards of blogging. We strive to maintain and promote only the most credible blogs in their respective fields.

Spam blogs or "splogs" has been a problem for some time now and people are getting confused about which blog to trust.

We would like to thank you for maintaining such a reputable blog. We know that it takes time, effort and commitment to keep such a blog and as such, we have added your blog as one of the top Accounting Blogs.

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Thank you for keeping your blog credible. Let's keep the blog revolution alive!

Maria Blanchard
BlogFront.org
Blog Revolucion

[Alex]

Hi,gdg

I am working in a small Chartered Accountants St Albans firm, it also happened with me. I was scared as some of my colleagues were also involved in it.

Thanks for sharing the post!

[Joe]

Nice post, I like it. Definitley need to do everything you can to prevent fraud, it can get expensive!

[online tax]

Thanks so much for the great tips,I have benefited a lot from them.Safeguarding employer assets should be placed at first all the time.

[William Taylor]

Thank you for the link to the fraud prevention tips. I am just getting up to speed in this area and finding your blog quite helpful.

[Said]

Thank you my friend :) I will come back to read more from you!

[Jamie Shellman]

In health related topics they always say that prevention is better than cure. Well, I guess it works in every field, especially when it comes to assets or financial matters. That's why it is very important to know your employees very well and know whom should you trust. It's great that there are accounting solutions now to help the company or the business owner keep track with the cash or business flow.

[Accountants London]

"Fraud prevention is much less costly than fraud detection and investigation." This is so true! Just by taking the easy steps in order to prevent fraud and identity theft you can protect both the clients and your own information.