Please visit the new site – here is a list of posted articles:

23 May

www.internalcontrolfreak.com

Here is a list of post titles on my new web site. This is almost one year’s worth.

 

A Basic and Broad, High Level Project Management Internal Audit Review
A simple common sense guide to small business success
A tally of 34 recent, high-profile embezzlement cases in Shasta, Tehama and Siskiyou counties, California
A WHITE COLLAR FRAUD STUDY OF MAJOR EMBEZZLEMENT CASES
Book Report – Other People’s Money, A Study in the Social Psychology of Embezzlement by Donald R. Cressey
Employee Relations – I think this is an aspect of internal controls
Hey, you got a receipt for that stuff?
Internal Control Basics for small businesses and organizations
Password Policy – Sharing Passwords
Performing Cost Recovery Audits, Adding Value and Having Fun
Quickbooks small business accounting issues, problems and ideas
Small Business Accounting and Control Quiz
Small database of fraud and embezzlement cases for 2012 – Standard
Suspense Accounts – Approach with Caution
The greatest fraud in modern times
The Triad of Fraud
Time Card Fraud
Travel Expense Fraud
What about the AICPA’s Consideration of Fraud in a Financial Statement Audit?
What is the most important internal control?
Cloud Computing and Auditing
Collecting from a collections expert
Collecting from a company in trouble
Collecting on bad checks
Collections war stories – How I did it
Cost Recovery Audits
Internal Fraud by a Company Executive
Is a Pretend Control Process Worse than No Control?
My Special Purpose
Show me the money!
Skimming from the Man
This kind of thing makes me furious!
Uncovering Naughty Vendor Antics in State Government
What? Another Bad Bookkeeper?!
What’s in the drawer????
When is a control not a control?
Who is in charge here?

Small database of fraud and embezzlement cases for 2012

19 May

Fraud Database

Just for fun, I’ve started pulling stories of fraud and embezzlement from the internet and logging them into an Excel spreadsheet. These are all within the last 6 months. I’m trying to limit the selection to 2012 so it’s current. It’s got only 22 records so far, but I will continue to work on it.

I entered the search term “Bookkeeper charged with embezzlement 2012” and got 145,000 hits returned. I printed out the first 10 pages with about 10 links per page. Some are duplicates. I also did a search for “Executive charged with embezzlement 2012” and got another slew of hits. I printed out 10 pages of those. When those are done, I will try President and Manager for search terms. I’m hoping to end up with about 400 records. Oh, and the year is not even half over.

I have added more records since I first posted this.  There are now 49 records.

For the original 22 records, the total fraud exceeds $10 million. That’s almost $500,00 average per fraud. Look at the description of the fraud. It doesn’t seem like any were very sophisticated. It looks like in almost every case, there was nobody checking on the bookkeeper – a lack of segregation of duties.And the bookkeeper simply forged signatures on checks and made fraudulent credit card charges on the company credit card.

Bookkeepers and accountants in private practice should use this information to educate your clients on the critical importance of good internal controls.This should scare the crap out of any small business owner. Or church. Or non-profit organization. Or school.

Please leave me any comments you might have regarding this. Thanks.

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