Since our core focus at R&R Accounting is nonprofit organizations the articles posted here may be overweighted in their respect, however, this should not detract from their relevance to our small business clientele.
Over the coming months we'll be posting articles related to fraud and abuse that we hope you'll find useful in protecting your organizations. According to the Association of Certified Fraud Examiners 2018 Report to the Nations, small businesses lost a median $200,000 per scheme to fraud. This can be devastating to a small business and nonprofits in particular can suffer even greater through damage to their image and reduced donations.
A strong anti-fraud model consists of management oversight and its implemetation of financial and non-financial controls. We'll explore each of these in detail in the coming months.