Simple Steps to Prevent Fraud

by Robert W. "Bo" Elliot, Jr.,CPA Partner, Elliot & Warren, PLLC

1. Have all practice bank account statements mailed to your home address.

2. Open each statement, review the activity and question several items with your staff.

3. Never, ever sign blank checks.

4. Insist that supporting documentation accompany all checks presented to you for you signature.

5. Do not use a signature stamp.

6. Limit check-signing authority to you and your spouse.

7. Insist that your bookkeeper take at least a week of consecutive vacation annually.

8. While she is away, take her telephone calls and open all mail.

9. Attach credit card receipts to the monthly statement. Investigate charges that do not have an attached receipt.

10. Set a good example: deposit all cash receipts, follow the above rules, be alert.