Wednesday, October 1, 2014

Forensic Accounting & 3 Ways To Prevent Workplace Fraud

By Bob Oliver


When it comes to your average workplace, one of the first terms that should come to mind is, "professionalism." However, when you encounter an instance of workplace fraud, it goes without saying that the aforementioned term practically goes out of the window. This is where a level of action is needed, which is an endeavor that can be fulfilled by experts in the field of forensic accounting. In fact, here are 3 of the steps to be taken for preventive purposes.

To start off, consider that there are potential warning signs amongst those who may be involved in workplace fraud. Maybe you have noticed that a fellow worker does not take the vacation time that he or she is afforded. Even more importantly is the idea of billing and how complaints may come in about the lack of payments made. While these are just a few possible examples of workplace fraud, they are ones to make note of all the same.

If you'd like to know about the ways in which workplace fraud can be done, there are quite a few methods to take into consideration. Larceny - the process of taking money out of an accounting system when it has been placed there already - is perhaps the most common. This is done by those who, typically, have access to said system, as you can probably imagine. Workplace fraud can come about in quite a few ways; this just happens to be one of the most common.

For those who may be short on options, take it upon yourself to consult those who are higher in power. Authorities such as Gettry Marcus may be able to tell you about the importance of human resources, as it relates to your place of work. The reason why this is the case is because of possible open-door policies which will allow you to air your concerns without any fear whatsoever. This is yet another note that those in forensic accounting will understandably draw your attention to.

If there's one thing that can be said about workplace fraud, it's that it is a problem worth addressing. However, you should also know about the ways in which it can be prevented, which has been illustrated by the aforementioned 3 pointers. You can be certain that each of them will have their own levels of effectiveness to take into consideration. Make it a point to focus on said pointers and you will see that workplace fraud will become that much less of an issue on your end.




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