Avoid Business Fraud

   

Business fraud grows despite internal and governmental vigilance. Regulatory laws are expensive and time-consuming for industry to enforce; still industry fraud remains a problem.

                       

Whether you operate a small shop or a section of a very large business, there are some corrective rules of thumb. Check and double-check the background of those you hire. Once they’re on staff, constantly educate employees about fraud. The idea is to show them you are strict about the subject, as there is a strong psychological element to the educational process.

                       

As for large corporations: Despite Sarbanes-Oxley and annual audits, fraud is a business constant. A change of auditors every year is one solution. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)