Loss Prevention

| February 10, 2013

The Average Business Loses 5% of Its Revenue to Fraud.  How Much Do You Lose?

Potts & Company can help you establish internal accounting controls to minimize the risk of  financial loss due to fraud and embezzlement.

According to the 2012 Report to the Nations published by the Association of Fraud Examiners, it is estimated that the typical organization loses 5% of its revenues to fraud each year. The same report states the median loss was $140,000 and it took, on the average, 18 months to detect the fraud. Other findings listed in this report included: the smaller the organization, the more significant the loss; 87% of perpetrators are first time offenders with clean employment histories;  and more frauds are detected by a tip from another employee than any other method.

Potts & Company can help you design and implement a system of internal accounting controls to make employee theft and fraud more difficult to commit.

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