Is your business vulnerable to fraud? Did you know that a recent study of fraud reported that small organizations (fewer than 100 employees) are over 100 times more vulnerable to fraud than large companies? When was the last time you reviewed the controls over your operations?  How secure are your computer, record keeping and payment systems?  Have you noticed any employees who seem to be spending outside of their means? If you could not answer these questions, your business could be vulnerable to fraud. What are some examples of  fraud? Fraud can take on many forms including stealing money or merchandise, taking kickbacks from suppliers, and providing false financial information.  Could these situations happen to you? Your longtime bookkeeper has been authorizing checks to herself and recording them as "consulting" expenses. Your buyer has been purchasing items with the company's money for his own side business. Your highest producing salesperson has been expensing hotel stays and "client dinners" while on personal vacations. How can you prevent fraud from happening to you? There are several steps you can take to prevent fraud including creating a culture of honesty and high ethics, having strong system controls, paying attention to warning signs and creating a system for employees to report irregularities. How can Spence, Marston, Bunch, Morris & Co. help you detect and prevent fraud? We can help you evaluate and tighten your system controls as well as establishing procedures to monitor your operations. Contact us today!    The following is a link to a publication produced by the AICPA on how you can prevent fraud in your business.  Management Antifraud Program and Controls