Tax Question:
What are the steps you should take to protect your company from fraud?
Facts:
You have worked hard and invested time and money into your company. You want to protect this investment. There are internal controls you can put in place to help you identify irregularities and detect possible fraud.
Discussion:
In this series, we will discuss some of the steps you can take to improve your internal controls and protect your company from fraud.
- Segregation of duties: What duties should be segregated to help prevent fraud?
- Bank reconciliation: How does preparing bank reconciliations help to prevent and detect possible fraud?
- Key reports: What reports should you be reviewing regularly to identify irregularities?
- Asset control: What controls should be put in place to protect the company assets from fraud?
Please read the next four publications for a discussion of the above topics on protecting your company from fraud.
Grant Gilmour, BSc (Hons), MBA, CPA, CA, CICA – ITC
Partner, Gilmour Group CPA’s
Email: faqs@gilmour.ca
Disclaimer: The information contained in this article is intended solely to provide general guidance on matters of interest for the personal use of the reader, who accepts full responsibility for its use. While we have made every attempt to ensure the information contained in this article has been obtained from reliable sources and accurately described herein. SW Media Group and Gilmour Group Incorporated is not responsible for any errors or omissions, or for the results obtained from the use of this information. Before taking any action that might affect your personal and business finances, you should consult a qualified professional advisor.
