My last 13 posts have been specific tips designed to help you do a better job preventing fraud at your company. My hope is that by calling your attention to the variety of ways that people commit fraud and by sharing these anecdotes you’ll be proactive in putting in place checks and balances and sticking [...]
Posts Tagged ‘CFO’
13 Fraud Prevention Tips
Posted in Fraud, tagged CFO, business, stealing, fraud, Money, theft, Accounts Payable, purchase orders, fraud prevention on April 30, 2012 | Leave a Comment »
Fraud Prevention Tip: Think About the Financial Impact of Rare Events on Your Business
Posted in Fraud, tagged CFO, Controller, fraud, scam, off-book transactions, insurance, rebate, Sales Performance Incentive Plans on April 24, 2012 | Leave a Comment »
The smoothest kind of scam – and one of the hardest to detect – is what I call an off-book transaction. Just a For Instance An off-book transaction most often happens because something rare occurs at your business. Let’s say, for instance and hopefully not, that there’s an extraordinary event like a fire or a [...]
Fraud Prevention Tip: Always Poke Around Your Books
Posted in Fraud, tagged CEO, CFO, Controller, payables, fraud, Money, accounting, theft, checks, books, auditor, ledger, Quickbooks, companies, supplies, payment, suppliers, bills, Chattanooga, California, Indiana, Discover Card on April 13, 2012 | Leave a Comment »
When companies start the CEO or business owner is the one signing all of the checks. That’s just the nature of a start up and a small business. But after a company grows and other people – CFO, controller, auditor, etc. – are put into the position of check signer, the CEO or a majority [...]
Fraud Prevention Tip: Change the Standard by Which You Check Your Transactions
Posted in Fraud, tagged C-Level, CFO, checks, co-signer, expense reports, fraud, payroll, senior management, Suwannee on March 30, 2012 | Leave a Comment »
My last tip concerned reviewing the payroll, but anybody running a business knows that’s far from the only expense that fraudsters can tamper with. Many companies have expense reports. Sometimes they come from traveling consultants or a sales force. Other times they’re the domain of local managers who take associates and leads out for meals [...]
What Are You Doing for Fraud Prevention Month?
Posted in An Ally's Advice, tagged CFO, financial controls, fraud, Henry Ward Beecher, National Fraud Prevention Month on March 9, 2012 | Leave a Comment »
“Every young man would do well to remember that all successful business stands on the foundation of morality.” – Henry Ward Beecher This quote seemed like a good way to address the month of March, which is National Fraud Prevention Month. Last year, I wrote the following post encouraging you to be aware of fraud and [...]
If You Don’t Sweat the Small Stuff, It May Come Back to Haunt You
Posted in An Ally's Advice, tagged budget, CEO, CFO, Controller, formulas, spreadsheets on January 20, 2012 | Leave a Comment »
Do you remember that book, Don’t Sweat the Small Stuff: And Everything in Life is the Small Stuff? I can appreciate the life philosophy, I really can, but let me tell you: in business, everything that’s small could become big if you don’t pay attention. If I have a cut on my finger and I [...]
I Want to Introduce You to a New Friend
Posted in An Ally's Advice, tagged American Recovery and Reinvestment Act, Bonus Depreciation, business owner, CEO, CFO, fraud, Internal Revenue Service, IRS, president on January 11, 2012 | Leave a Comment »
What do you think of when I say, “The IRS?” Does your stomach clench up a bit? Does your forehead get warm? Maybe the physiological reaction isn’t so dramatic, but I imagine that your mental associations with the Internal Revenue Service of the United States are anything but positive. Fair to say? Maybe you got [...]
Giving Back During Tough Economic Times, Part 6
Posted in An Ally's Advice, tagged CFO, charity, donation, giving back, Last Will and Testament, payroll on December 9, 2011 | Leave a Comment »
We’ve discussed a lot of different ways over the past few weeks that you can give back during tough economic times. This one happens to be a little trickier, because its effects are – hopefully – not immediate. However, at some point it’s sure to have a big impact. Write a bequest in your Will [...]
It’s Always the President’s Fault, a guest post by Vic Taglia
Posted in An Ally's Advice, tagged CFO, leveraged buyout, management, Patton, World War II on May 25, 2011 | 1 Comment »
As managing partner of GGG and the Turnaround Authority, I get the pleasure of providing guest posts by our other partners. The following post is by our newest Partner, Vic Taglia. No, I’m not talking about Mr. Obama. Twenty-five years ago I got my first CFO job with a $50 million manufacturer/distributor of electrical products. Howard, the company’s [...]
Learn about GGG
Search
Categories
What We’re Talking About
