While the most devious of fraudsters might go unnoticed for some time, many fraudsters are ordinary individuals who see an opportunity. The frauds that they commit are quite simple in nature. The implementation of some simple checks within an organisation can make it much more difficult for a fraudster to take advantage. The results could be startling - preventing a fraud of £100 each week equates to around £5,000 leaving an organisation over a year. Operating at a 20% margin would mean generating £25,000 of turnover to compensate for this.
If you would like to discuss any of the issues raised above please do contact us. We are able to provide comprehensive assistance with management accounting and budgeting along with bespoke advice on the type of internal controls that you could implement within your organisation to minimise the risk of fraud. Should the worst happen, we are also able to offer independent investigation services to help you determine the extent of any loss.