First few Article Sentences
Case Scenario
Your staff bookkeeper suddenly left the office for several weeks for an emergency procedure. For 18 years, you have trusted your bookkeeper implicitly to take care of the finances for your small medical office. She has never been away for so long, but her extended illness requires that you hire a temporary accountant. In the bookkeeper’s absence, the accountant notices an inconsistency in the accounting and traces it back to discover several more.
The accountant recommends you hire a forensic accountant. An in-depth audit reveals that your bookkeeper has been embezzling business funds. The loss from this embezzlement is estimated at $425,000.
While the news is devastating, unfortunately, it’s all too common. Small businesses are particularly susceptible to this type of loss. According to Modern Medicine, “Small business owners, which include physicians, [lose approximately] $20 to $40 billion annually, with 75% of the crimes going unnoticed."