Monday, June 4, 2012

Periodically, every 6 months or so, do a couple of things that will detect or prevent theft and fraud in your business.
From you accounting and Payroll software run a report of employee addresses and Vendor addresses. Compare them. Do any of them look the same or are street numbers close by? Go into it deeper, if they are.
Look for checks written in round numbers – particularly large amounts relative to your average check amounts. You should not have many but look at the ones you have. Are they genuine? Look at recurring payments, especially if they are small. Where are they going and are extra amounts being paid relative to a twelve month period.?
Review credit card payments and whether it is in the name of the company or individuals.

Mohamed Noohu

Mohamed Noohu

MSNCFO founder Mohamed Noohu has over 25 years of varied work experience as Controller, CFO, and business owner. His background reflects diverse industries, company sizes and stages of growth, including very large, well-established multi-nationals in the oil services, logistics, transportation and Insurance industries, mid-sized companies in electronics distribution, and several start-up companies.


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MSNCFO provides many opportunities to intermediate accounting students. Throughout my 3.5 years of working with the company, I was able to improve my existing skills,

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