6. Purchasing Goods for Personal Use with Company Funds
7. Data Manipulation
8. Fraudulent Expense Reports
9. Manipulate the Machines
10. Salami Fraud
Know that many controls are easy to establish while others may be too elaborate or
expensive for your business. For smaller businesses, it’s sometimes difficult to
properly segregate duties for good internal control. Think hard about this because
it’s a major reason smaller businesses are hit so hard by employee fraud.
Segregation of duties between employees having physical control of your assets and
recordkeeping for those assets is absolutely critical.
Regardless of the amount of time and money you spend, you’ll never be able to be
completely fraud-proof your company. Having said that, employee theft is a crime of
opportunity. If you take small, simple steps, you can create a healthier internal
control system and help discourage employee fraud at your company.
