.jpg "JULIE STOUT, CPA")
ACCOUNTING SERVICES FOR ALL, llc
~ Peace of mind for our clients ~
.jpg "CODRINA COZMA, MACC")
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error
Whoever works will make mistakes. It's inevitable, and a good manager can turn errors into stepping stones for growth. An error is committed due to lack of knowledge or omission, but without malice or premeditated intention. An error may have significant financial consequences, but it will have little or no legal impact on the doer. While it signals that employees may need additional training, or it may offer an employer sufficient grounds to lay off the employee who committed a serious error, the simple fact of erring will not hold much stance in a court of law.
VS. FRAUD
Fraud is different from error in that it is planned and intentionally malicious. The perpetrators of fraud are following internal motives (a perception that they are unfairly treated, greed, pressures to pay bills or resolve extreme afflictions, kleptomania), and they are also taking advantage of external circumstances that enable them to carry out their plans to steal. Because of the premeditation and intention elements of fraud commission, such behavior will face legal consequences.
OUR POTENTIAL FRAUD DETECTION SERVICES
We will run detailed tests, reconciliations, a thorough identification of potential internal controls weaknesses, and an analysis of all relevant transactions, documents, and balances in order to detect irregularities. Whether these irregularities are innocent errors or potential fraud remains to be determined by our client's judgment and/or in a court of law. Our services will only identify irregularities and present them to our client in a context as detailed as possible. We can also offer consultancy on topics of fraud detection and prevention.