Steve Franklin, Certified Fraud Examiner & Director at CBIZ MHM, LLC discusses how to protect against misappropriation of funds and mantain an adequate system of internal controls.
Fraud, you find it everywhere. According to a 2010 report done by the Association of Certified Fraud Examiners, a typical organization loses 5% of its annual revenue to fraud. Enron, Worldcom, Parmalat, and Tyco have grabbed major headlines, but open the Wall Street Journal on any given day and you will find companies who experience fraud problems. And, it's pervasive in almost every industry in companies of all sizes.