Embezzlement Prevention—To Catch a Thief!

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This topic has 0 replies, 1 voice, and was last updated 10/08/2011 at 6:23 am by Anonymous.

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10/08/2011 at 6:23 am #12452

Anonymous
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Incidents of fraud and embezzlement are on the rise, and dentists are often a choice target. A busy dental practice is the perfect environment for financial fraud. The definition of embezzlement: “is theft of money or property from a business by an individual in whose custody it has been placed,

10 Steps to Prevent Embezzlement

Proper employee hiring procedures.
Why bonding employees is important.
Be aware of “red flags” that may indicate potential fraud.
Set up rigid protocols for handling office finances.
Install software that creates an audit trail.
Check your financial records every day.
Monitor charges and payments.
Control practice cash flow.
Petty cash control.
Bank account reconciliation.
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