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CG Team Blog

Fraud Prevention Strategy Series - Financial Information

Posted by Stephen Reed, CPA, PSA, CGMA

Apr 5, 2016 10:00:00 AM

An important tool to help detect and prevent fraud in your company is to take a look at your financial information. Compare the current year information against information from prior years to determine if there are any anomalies. Has your Gross Profit Margin decreased? If so, take a good look into your Cost of Goods Sold. Do the expenses make sense to you? If not, maybe an employee is stealing merchandise or maybe they are in collusion with a vendor to inflate the cost of your materials and supplies.

Topics: Employee Fraud Prevention

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