TAKE AFFIRMATIVE STEPS TO STAVE OFF EMPLOYEE FRAUD

Even in the best of economic times, employees defraud their employers.  When times are tough, like now, the incentive to take from one’s employer is even greater.  To minimize your company’s exposure to fraud from within, Leah DiGregorio, a Portland CPA, suggests taking the following steps: (1) implement and monitor internal controls to create an environment where the opportunity for fraud is minimized; (2) be alert to the pressures and rationalizations employees may experience like the loss of a spouse’s job or addiction or gambling problems; and (3) look for fraud warning signs like rising costs without explanation, an employee with too much control, or an employee who is unwilling to share duties.  A vigilant, proactive approach to employee fraud could save your company thousands if not millions of dollars.