I put in the search “tax evasion” since it is tax time, and I am interested in that and “misappropriation of cash”. I came up with an article called Some Tales from the Far Side of Forensic Accounting. It has a story about a woman who was able to con her employer out of over one million dollars. She ended up depositing the companies checks into her bank account. Her bank never even noticed or questioned her about this. She eventually got a new job and the new employer notices missing funds. The company decided to do an investigation to find how much funds were taken. Things that could have stopped this would have been the bank where the lady deposited the money doing their research on the check. If they would have paid attention to who’s name was actually on the check, this would have never happened. I feel that it was partly the banks’ fault for allowing this to happen. They should have been more careful. Things that a company could put in place would be:

1. Track the bills and payments that come in a system – even if it is just QuickBooks 

2. Have more than one person accountable for this information and review it daily. Like at our work, they have more than one person to be responsible for a task that needs to be done. Not one person can complete a task complete – so there are fewer chances of stealing money. 

3. For the taxes, have more than one person been responsible for this task as well. Have one person enter the info, one person reviews the info. 4th. Also, always have auditors involved in your business.

Do you agree explain?