Press Articles

Last year, my firm was looking for an Executive Assistant. In a small (but busy) office, this is a critical job function. Not only is this person client-facing with prospective and existing clients, they must also manage me - a busy professional with far too many balls in the air.

Are we just reading the wrong newspapers and reports or does it seem that auditors-although they spend hours and hours performing audits-rarely identify instances of fraud? Most companies rely on their auditors to uncover irregularities and breathe a sigh of relief when the audit comes up "clean." Is that reliance misplaced?

According to the Association of Certified Fraud Examiners, American small businesses lose an average of 5 percent of their annual gross revenues to insider fraud - that is, theft committed by their own employees.

When a longtime friend asked for a loan to help get her boyfriend back on his feet, Maria Voltl, 84, decided to help. Ms. Voltl had lent money to her friend before, and it had always been paid back. So without consulting a professional, she handed over $500,000.

In December, when most people were thinking about new year's resolutions or goals for the coming year, most small business owners were gearing up to close their books and finalize their tax compliance with the seemingly endless requirements for federal and state taxes.

"Alice" was "Dr. Young's" office manager, and had been with his practice for more than 15 years. He often referred to her as his lifesaver because she handled all of the administrative and bookkeeping duties. The office ran in tip-top shape and Dr. Young could focus on his passion: helping and healing his patients.

It can be stated that fraud is the second oldest profession - I'm fond of saying "where there's money, there's money to steal." Even after 15 years as a forensic accountant, it never ceases to amaze me that fraudsters think they can get away with their crimes.