Unfortunately there tends to be two types of businesses when it comes to fraud, those who have dealt with it and those who will. Dealing with fraud doesn't just affect the bottom line, it is also an emotional roller coaster. According to the Association of Fraud Examiners (ACFE) in a 2004 report to the Nation on Occupational Fraud and Abuse, put together data from its members on 508 cases of occupational fraud, which totaled over $761 million in losses. The survey revealed that 45.8% of losses occurred in businesses with fewer than 100 employees. The realities of fraud are not pleasant but as business owners and managers it is of utmost importance to setup and properly execute prevention measures.
Lemonade Accounting can help identify and reduce your chances of facing fraudulent activities by reviewing your internal audit procedures, recommending anti-fraud internal controls and conducting procedure reviews. If in fact fraud is discovered Lemonade Accounting can assist you with a timely investigation.
Our process to assist our clients:
- Conduct investigations and review
- Perform procedure reviews
- Provide management training
- Review policies and procedures
- Assess fraud risk
- Perform internal audits of high-risk areas
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