News Analysis: “Bad Nuts Can Ruin Fruitcakes; Trust But Verify” is an admonition for Family Operated Companies as well was Public Corporations. Outside Forensic Accountants should be hired to examine Company Books INDEPENDENTLY of normal In-House and other Outside Auditing.
Typically, an Embezzler will do most damage from a high position in a company (C.F.O.?) not as a lower level employee (there are fewer ‘eyes’ above the Miscreant). Bribery and Embezzlement go hand in hand to keep the theft detectors at bay. A Crook will use his Employment Position and Guile to appear beyond reproach (Colorful Snakes do not always Hiss).
Businesses need to have continuous but random times for Records Examinations by Forensic Accountants. A Corporation that does NOT have Zero Tolerance For Thieves, “Gets What It Gets”.
Reality.
Reference: http://tinyurl.com/mk6g8xk