small business, big risk*

19

Jun

2015

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Edward Nagel, Principal of nagel + associates is quoted in an article in the publication Forensic Accounting & Fraud, a supplement of The Bottom Line and The Lawyers Weekly, in an article entitled, “Small Business, Big Risk“.

Fighting fraud no simple task in an environment that includes fewer internal controls.  The cost of doing business shouldn’t involve theft — but it does. A typical organization loses five per cent of its revenues annually, or nearly $3.7 trillion to fraud (all figures U.S.), according to the results of a global online survey of 34,615 certified fraud examiners last year by the Texas-based Association of Certified Fraud Examiners. Hardest hit with the highest incidence of victimization of 29 per cent were organizations with fewer than 100 employees, which reported a median loss of $154,000.

Click here to continue reading the complete article.

* This article originally appeared in the Spring 2015 issue Forensic Accounting & Fraud, a supplement of The Bottom Line and The Lawyers Weekly.

 

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