Understanding How and Why Worker Theft Occurs Can Help Small Business Owners Deal With the Problem More Effectively

It is an owner’s worst nightmare…not a major dip in sales due to a global recession, a competitor gaining market share, obsolescence of a company’s main product line…none of these factors which are often outside of the direct control of a business owner due to market forces – but one that is perceivably “something that they should have seen” or was under their control: Theft by an employee of their own company!

It is important for a business owner to be cautious when discovering that money, equipment or inventory is missing from an embezzlement or theft, and you suspect a particular employee is responsible, do not immediately confront him or her.  Accusing someone who turns out to be innocent could make the company liable to a judgement for defamation, etc.  You should contact both an attorney and an accountant. 

 If you have any questions or would like assistance with designing or updating a system of internal controls for your company or forensically assessing who had access to the company records and who might have committed the crime as well as tabulating monetary damages to a company resulting from suspected worker theft, please contact our office at (305) 672-4272 or david@cpa-fl.com.

Read the Full Story in the Miami Herald at: http://www.miamiherald.com/125/story/1455576.html