Fraud & Abuse

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

Internal controls are an essential failsafe for any organization regardless of size or complexity, as they promote timely and accurate financial information that is free from irregularities or errors… 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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Internal controls for a company's billing process have as their objective the accuracy of billing data, prevention of errors or irregularities, timely processing, separation of duties, and detection… Read More

The passage of the Sarbanes-Oxley Act has brought the issue of fiscal responsibility back to the top of the financial professional’s mind. News headlines have highlighted the financial misdeeds in

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As the following stories amply reveal, AR and credit managers are regularly exposed to a wide range of finance and accounting fraud. These schemes can range from the creation of false invoices or… Read More