Posted on 08/31/2015 6:51:15 PM PDT by Brad from Tennessee
Interesting; I remember the audit classes from college, and then saw the controls in action in the workplace. Much easier to enact with larger staffs; as companies reduce staff levels so many positions are “one-deep”, it becomes harder. You’re right that most things have been done before (maybe with slight variations); competent people should be able to detect theft fairly quickly. I’ve seen things where collusion was necessary (and even then the thefts should have been detected by a third party fairly quickly as well). Simple basic controls (like timely bank reconciliations) go a long way in sniffing things out, but too often overworked staff delay that process.
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