Small to medium-sized companies often fail to properly address fraud-related risk. Often, these organizations lack the resources needed to mitigate this risk. In other cases, owners or senior management underestimate the scope of the issue. All organizations, regardless of size, must be aware of the risks associated with intentional fraudulent acts. Further, that a significant and effective fraud scheme could present going concern issues. We’ll explore the reasons that fraud takes place, examining defalcations that are often executed against smaller entities. Then review measures that organizations can implement to increase security and stop fraud.
The reasons for fraud. Fraudulent acts that are initiated against smaller organizations. Methods to stop fraud attempts against small businesses.
CPAs, accounting, and business professionals.
List reasons that employees and others that are internal to an organization choose to undertake fraudulent acts. Explain the factors that make smaller organizations attractive to those considering fraud. Understand specific internal control measures that can help to reduce fraud activities executed against smaller and medium-sized companies.
Karl Egnatoff is a Certified Public Accountant (CPA) based in Myrtle Beach, South Carolina. He has worked as a consultant, trainer and programmer related to financial and business technology projects for the past 20 years. Prior to this, Karl worked in public accounting as well as in private sector accounting for a period of approximately six years. He has been teaching group live and web-based continuing education for the past six years. In addition to being a CPA, he is also a Certified Information Technology Professional (CITP).
Karl is a member of the West Virginia Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Information Technology Section of the American Institute of Certified Public Accountants. He has also achieved a number of technology certifications including Microsoft Certified Professional (MCP), Certified Software Engineer (CSE) and Certified Integration Developer (CID).
During the course of his career, Mr. Egnatoff has owned and operated a number of successful businesses. All of these were business technology entities that provided consulting and training services. The experience he garnered while with these organizations serves him now as he teaches continuing professional education in association with K2 Enterprises.
Karl graduated from Marshall University with a Bachelor of Business Administration degree. During his time in college he participated in division I Cross County competing on the varsity squad. He was also on Marshall’s Track team. Karl and his wife Lana live in Myrtle Beach, South Carolina and have been married for twenty-four years. They have two grown sons, Jordan and Steven.
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