Fraud & Abuse


The 2016 Global Fraud Study by the Association of Certified Fraud Examiners (ACFE) reveals that the typical organization loses 5 percent of revenues in a typical year as a result of fraud. The median… Read More

The importance of effective internal controls in AR departments at both private and public companies cannot be overstated. Internal controls are the key to maintaining an efficient operation,

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When fraud hits an organization, who is to blame? While the obvious answer is the individual (or individuals) that committed the fraud, can you also blame the fraudster's manager? For that matter,… Read More

AR fraud typically involves simultaneous manipulation of inventory and sales. AR fraud schemes perpetrated from within the department can include fictitious receivables, cash skimming, failure to

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Introduction Let's begin our discussion by considering either of the two following phrases: All rivers lead to the ocean, or All roads lead to...(pick your favorite town) In the most general sense,

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In an IOFM survey, respondents were asked to cite which new technologies that they'd adopted over the previous year had delivered the greatest efficiency gains to receivables performance, AR… Read More

To identify situations where fraud could occur, Mike Iverson, the Financial Operations Networks' CFO, recommends reading Fraud Detection: Red Flags, an article that Protiviti, a consulting firm,

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At first glance, Rita Crundwell appeared to have it all. The long-time city comptroller enjoyed a national reputation as a top horse breeder, sported lavish jewelry and traveled in a $2.1 million… Read More
Separation of Duties Processing Controls Document Controls Safeguard Controls System Controls Preventive Controls as an Evolving Process Internal controls are an essential failsafe for any… Read More

As e-mail and other forms of electronic communication have become ubiquitous in the business world, it is easy for AR and credit professionals to forget that the exchange of credit information is

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