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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Do You Have a Fraud Investigation Policy?

October 10, 2019 by OSYB Staff

What happens when you discover that fraud has been uncovered in your business? Once fraud has been discovered immediate attention is required and an investigation should commence with the right team. Fraud Files shares a comprehensive guideline on what to do: Implement your fraud investigation policy which should be included in company guidelines and should […]

Fraud Facts

April 10, 2017 by Jarred Berman

The Association of Certified Fraud Examiners (herein referred to as ACFE) publishes a report known as Report to the Nations every two years since 1996.  This report is a summary of a detailed analysis of actual cases worked on in the most recent years by Certified Fraud Examiners (CFEs).  The report presents data on the […]

Simple QuickBooks Techniques to Thwart Employee Fraud

May 3, 2013 by Ed Becker

Small businesses often overlook the risk of employee theft and fraud. In most cases, weak internal controls leave the door wide open for embezzlement of company funds by unscrupulous employees. Fortunately, there are several simple techniques that can be implemented in QuickBooks to significantly decrease the risk of fraud. 1. The Root of the Problem […]

Audit Trail Within QuickBooks

January 25, 2013 by Ed Becker

The QuickBooks audit trail is a great tool for business owners, CPA’s, forensic accountants and anyone who is concerned about the integrity of the accounting files they use. Unfortunately, there are dishonest employees who look for weaknesses in systems and perpetrate fraud everyday. My bookkeeping firm, Outsource Your Books LLC, has been brought in on […]

Quickbooks Audit Trail – Who Needs It?

April 12, 2012 by Ed Becker

A few years ago, the QuickBooks Audit Trail feature could be turned on and off. However, in the most recent versions of QuickBooks, the feature is always on. Even the administrator can’t turn it off. It has its drawbacks, but for the most part, it is a very useful feature, albeit under-utilized. What does the […]

Don’t Be Part of the Headlines! – Accounting Fraud Scandal

March 29, 2012 by Ed Becker

For eight years, the woman worked in accounts payable for a Catholic Archdiocese, gaining the trust of her superiors. Colleagues praised her quiet dedication and hard work, and noted that she prayed often.  No one questioned the hundreds of checks she wrote at the archdiocese to cover small expenses, like office supplies and utility bills. […]