Tuesday, November 25, 2008

It’s no secret that society is wholly disenchanted with the failing economy, and unemployment woes are making headlines every day. The pressure of the approaching holidays and nationwide job security fears are combining to form a perfect storm in which corporations are at risk for increased incidents of accounting fraud.

As more layoffs are announced each day across the United States and salary increases remain stagnant, disgruntled employees are turning to alternative methods of increasing their cash flow, and your company may be suffering as a result.

Now is the time to be aware of discrepancies in your financial records. CEO’s of major corporations aren’t the only ones looking for a bailout, and your employees may be helping themselves to extra funding at your company’s expense.

The motives causing employees to resort to accounting fraud during the holidays are varied; they may be attempting to offset losses in the market, or in their 401K and retirement funds; they may be concerned about job security and are seeking to get whatever they can before possibly facing unemployment; they may simply be desperate for extra spending cash during the holiday season.

If you suspect financial fraud within your organization, then you’ll need a certified forensic accountant to conduct a thorough investigation. The certified forensic accounting team at Kessler International specializes in fraud detection, and their extensive training and professional experience with forensic accounting will ensure that you have one less thing to worry about this Christmas season.

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