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Protecting your Company from Fraud

April 11, 2017

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 FAQ publications for a discussion of the above topics on protecting your company from fraud.

If you would like more information on this topic, please contact a member of the Empire CPA team by filling out the contact form below.

Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.

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