While it can be difficult to quantify the worth of fraud prevention, it’s easy to quantify how organizations can be crippled by fraud. That’s why even small organizations should take simple, inexpensive steps to lessen their exposure to fraud. Danielle Supkis Cheek, CPA, a director of entrepreneurial advisory services at Houston firm PKF Texas, explains that and more in this podcast episode.
What you’ll learn from this episode:
- Why organizations sometimes overthink the tools needed to prevent fraud (1:35).
- The importance of specific, strong policies and procedures in fraud prevention (4:50).
- The role of “uncomfortable conversations” in fraud prevention (7:05).
- The Hawthorne effect’s role in preventing fraud (9:01).
- Why proper legal representation is critical in fraud mitigation (10:04).
- The secondary costs of fraud (11:55).
Play the episode below:
To comment on this podcast or to suggest an idea for another podcast, contact Neil Amato, a JofA senior editor, at Neil.Amato@aicpa-cima.com.