When you hear the word “fraud,” do you think of large publicized cases of government bribes and Medicare fraud? The truth is, according to the 2016 Report to the Nations, “Small organizations had a significantly lower implementation rate of anti-fraud controls than large organizations. This gap in fraud prevention and detection coverage leaves small organizations extremely susceptible to frauds that can cause significant damage to their limited resources.”
Steeple Accounting specializes in providing specific tools to minimize your risk. With over 20 years in church administration and financial reporting, we offer a focused approach to fraud prevention and deterrence in your setting.
Characteristics of the Typical Fraudster in the United States
“The longer a fraud lasted, the greater the financial damage it caused. While the median duration of the frauds in our study was 18 months, the losses rose as the duration increased. At the extreme end, those schemes that lasted more than five years caused a median loss of $850,000.” (from the 2016 Report to the Nations)
We provide the following assessment tools to assist you with mitigating your fraud risk.
- Develop and assess internal controls
- Conduct customized fraud risk assessments
In the event that you suspect or discover that fraud has occurred, we can help you through the process!
- Work with law enforcement to investigate suspicious activity
- Develop an action recovery plan should fraud be discovered