Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
An article appeared today written by David Katz of CFO Magazine that features an interview he had with me regarding the state of the union on employee embezzlements. Complacency seems to have settled in within some organizations who had well designed and operational internal controls, but over time lost compliance and oversight, leading the the creation of opportunities for individuals …
I have posted previously on the importance of every employer to ensure employee dishonesty, employee fidelity and/or employee crime coverage is included within your current policies. Often this policy is the only means for recovery from an employee theft. Even if coverage is maintained, I am confident most insureds are unaware of two common limitations within the coverage should there …
Much media attention has been devoted to the changes coming in February 2010 regarding credit card policies, changes in interest rates, and overdraft charges. Many banks have been making rapid changes to existing credit card holders’ accounts, increasing rates and lowering limits, in preparation for the imminent changes enacted last fall by legislation. You need to read the notices and …
Tonight I did a simple Internet search through Google’s News, using the key word “embezzlement.” The results – three screens of articles just from today’s publications on recent embezzlement cases, with a wide range of perpetrators and amounts involved. The largest – a Wisconsin case – a recently discovered $4.5 million scheme by the vice president of finance at Koss. …