Your small business needs better accounting

This is a very important story I pulled from CNN today, where I have encountered similar situations out there with clients.  

Sometimes, we want to belive that someone is going to do us good and help our businesses when in fact, they only serve to hurt us.

Check references, verify skill levels and do background checks. 

Sure, if an employee wants to steal from us, they will, but at least verifying who we are hiring lets employees know we are aware.

 

From CNN – The CFO of a California cabinet company was arrested Wednesday after a yearlong investigation, according to the San Diego County Sheriff’s on suspicion of embezzling $9.9 million from the company over seven years.

Because of the embezzlement, the San Marcos, California, company was forced to lay off employees and restructure, police said.

“She used these monies to gamble. She used them to remodel her home. She used them to buy expensive clothes, shoes, [including] a $4,000 pair of Italian shoes. She had more than 400 pairs of shoes in her closet,” Sgt. Mark Varnau of the Sheriff’s Department told CNN. “She had 160 high-end purses valued at $2,000 apiece.”

Read more at: CNN

 

Leave a Reply