As fraud continues to be a problem for small businesses, owners need to stay on top of the actions of their employees and customers. One way to do this is by establishing a division of labor. You never want the same employee writing checks and managing the books. It’s also important to regularly rotate employees on the job. If employees get too comfortable in their current position, they may get a little more confident and see what they can get away with. It is crucial that you have someone constantly monitoring the checks and balances internally to minimize you risk of fraud.
For more ways to uncover fraud at work, please visit Accounting Today.