As a business owner, you need to rely on your employees to help run your business, often entrusting in them important jobs like accounting and managing transactions. Because your success relies on them to do their job correctly, it’s important to not only trust your employees, but to also verify your trust.
Unfortunately, it’s common that small businesses don’t uncover employee dishonesty until it’s too late and the financial cost of fraud has become significant.
- Stealing or misappropriating money
- Corruption
- Financial statement fraud
How can you protect your small business from fraud?
By enforcing a few added policies and procedures you can help create a trustworthy environment in your small business.