Back in January, we wrote a piece called “Detecting and Preventing Fraud.” In it, we warned of the special vulnerabilities of small businesses to fraud (especially employee fraud), the extensive damage fraud can cause and gave some tips about how to prevent it. We think it’s a subject worth covering again, and so we’re happy to point you to a new post from the New York Business Law Blog titled “4 Ways to Protect Your Small Business From Fraud.”
We know it’s tax season and you’ve probably had enough quality time with your accountant to last you for a while – we’re quite certain our accountant has had more than enough of us. But, as we wrote back in January and the linked article supports, having your accountant perform both regular and random audits can prevent a fraud and serve to save you a pile of time, money and grief in the long run. The article also recommends establishing an anonymous reporting system, since most fraud is uncovered by fellow employees, and employees are more likely to report anonymously.
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