Power of Quality Bookkeeping: Your Shield Against Fraud

When asked, many small and medium business owners expressed significant trust and responsibilities towards their bookkeepers. And you may not be different to this. You may also feel close to your accountants or bookkeepers and believe that everything is in place.

37% of fraud is committed by company insiders. And you know what's even more alarming? This insidious fraud often goes unnoticed for at least 12 months before being detected, causing an average loss of $8,300 per month. That's a significant amount of money to lose.

According to the Association of Certified Fraud Examiners (ACFE), the accounting department ranks second after the operational department for involvement in fraud.

27% of owner/executive frauds involved financial statement fraud. That is why it is imperative to have the first line defense against fraud and financial mismanagement.

Quality Bookkeeping: Your First Line Defense to Combat Financial Fraud