How CPAs can help you escape Financial Fraud?

Do you keep a count on the number we encounter today? Be it tax scam, immigration scam, charity scam, social networking scam, fake check scam, or the grandparent scam, it’s causing havoc in the finance world. And who is in the role of busting the fraudster? We have accountants to fight financial fraud. They are the true superheroes who are busting frauds for decades. Accountants pride themselves on their role as protectors of their clients -- using their continuing education; vast resources from the IRS and industry; and even the audit process to help business owners and investors to side-step the worst of scenarios. 1. Reallocating the accounting duties Because of their size, many small businesses have one person that always handles bookkeeping functions such as client receivables, processing client payments, paying invoices, managing petty cash, and recording these functions in their accounting system. This makes it easy for cases of fraud to go unnotic...