As an accountant in St. Cloud, Fl , I know that while we are hasty in jumping to conclusions, whether it is in relationships or in business, most of us avoid acknowledging the fact that we can be duped. However, we are doing more harm than good with such attitudes. Any accountant in St. Cloud, Fl will tell your that these are tough economic times. It’s time to get our heads out of the sand and get ready for anything life can throw at us.
While getting an accountant in St. Cloud, Fl, cannot solve all your problems, they can assist you become more familiar and active with respect to these problems.
An Accountant in St. Cloud, FL Will Protect You From Different Types of Fraud
An accountant in St. Cloud, Fl will know that fraud can be of several types such as corruption, asset misappropriation, dubious financial statements etc. If a person is involved in a corruption scheme, it means they are violating their duty by seeking personal benefits from their influence in business transactions. On the other hand, those caught in regards to asset misappropriation would most likely have stolen or exploited the resources of their organization. According to one recent report, financial statement frauds account for less than five percent of cases. Make sure you note which one is most susceptible in your organization with your accountant in St. Cloud, Fl.
An Accountant in St Cloud, FL Helps with Fraud Prevention
If you can implement the following controls and procedures at your place, with your accountant in St. Cloud, Fl , you can minimize the fraud occurrences. For one, you can begin by knowing your employees. You don’t need to pry but you can be a vigilant observer to identify if your employees are exhibiting such behavioral traits. Engage them in conversation to learn more about any internal issue that you can address.
Secondly, an accountant in St. Cloud, Fl will recommend to make sure everyone working in your organization is aware of policy changes as you bring into effect the respective system. This will go a long way in deterring fraudsters from carrying out their evil deeds. Since the aim of the whole set up is to raise awareness among employees, you can try initiating an anonymous reporting method so that others can tip you off without feeling vulnerable.
In implementing internal controls, you can seek advice from an accountant in St. Cloud, Fl, to reduce the risk of such occurrences. They can evaluate your policies, suggest programs based on their experience in the area, and help with its implementation. One of the steps for this plan can be to segregate daily tasks. Since every job is interlinked in some way or another to others, it would be useful in pointing out any discrepancies that exist.
An accountant in St. Cloud, Fl will also advise to make sure your employees are documenting everything too. This way you can take a look at your assets and financial records on either a daily or a weekly basis to verify that everything is being maintained in smoothly. You can also try rotating your employees to other, appropriate jobs within the company. Plus you can always ask for an external audit rather than complying with the management review or internal audit.
If you don’t want your business to have a ruined reputation and face some serious legal costs, consider investing in a professional accountant.
If you need more information about our St. Cloud, FL accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt.