Small Business Fraud Prevention and Internal Control Workbook

VITALICS Small Business Fraud Prevention and Internal Control Workbook

Occupational fraud and abuse is destructive to smaller organizations. Small Business Fraud Prevention is key to protecting your organization from fraud before it occurs. Occupational fraud can cause such a catastrophic impact on a small business they either close, or reduce their size substantially. It takes years to recover, and most organizations will never see restitution and the money is long gone. Sadly, most suspects are not prosecuted. The first step in setting up a fraud prevention and internal control plan for your smaller organization is to learn about the risks.

GAIN AN UNDERSTANDING OF SMALL BUSINESS FRAUD AND INTERNAL CONTROLS

The Vitalics Small Business Fraud Prevention and Internal Control Workbook is available in three (3) purchasing options.

  • Individual purchase of the digital book
  • Included with Vitalics Internal Control System Bundle
  • Included with the Internal Control Report Templates Individual Category

If you purchase the product individually, it will be available through your email order link, or on the members account dashboard page.  If you purchase it through a package, it will be available for download on the forms dashboard.

Instant Download through the Members Dashboard

Table of Contents

  • Fraud Statistics
  • The Fraud Triangle
  • Workplace Conditions
  • Behavioral Warning Signs
  • Occupational Fraud
  • Billing Schemes
  • Check Tampering Schemes
  • Bribery and Corruption
  • Skimming
  • Expense Reimbursement Schemes
  • Cash on Hand Schemes
  • Cash Larceny Schemes
  • Non-Cash Schemes
  • Payroll Fraud Schemes
  • Fraudulent Financial Statements
  • Register Disbursements
  • Internal Control Procedures
  • Using Ratios to Prevent and Detect Fraud
  • The Difference Between Bad Bookkeeping and Fraud
  • Fraud Prevention Maintenance
  • Glossary
  • Index

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Buy the Vitalics Small Business Fraud Prevention Workbook or the Bundle Below

Complete List of Forms

WHAT IS VITALICS

Vitalics is a small business internal control program that provides all the tools to easily set up and implement your company’s controls.  Vitalics contains over 145 already created yet customizable internal control forms, checklists and templates and a fraud prevention and internal control workbook.  Vitalics forms are also available separately.   Whether you are a business owner, office manager, bookkeeper or accountant, Vitalics will provide you the reassurance that your work or your company assets are protected.

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Vitalics the best small business resources available!

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DID YOU KNOW ?

The average frequency of Anti-Fraud controls for small businesses with management review was 33.6% compared to larger companies of 73.8%? The primary internal control weakness in fraud cases was the complete lack of internal controls. According to the ACFE 2014’s report to the nation the small businesses lack of internal controls was more than 41% of cases. Further, at least one fifth of those cases could have been prevented if managers had completed a sufficient job in reviewing transactions, accounts and processes. The use of internal control forms and procedures will reduce fraud within a business organization.

OCCUPATIONAL FRAUD STATISTICS AND FRAUD SCHEME TYPES ACFE 2022 REPORT TO THE NATIONS

According to the ACFE’s 2022 RTN, U.S. Organizations will lose an average of 5% of their gross revenues to fraud. The association of Certified Fraud Examiners is the world’s largest anti-fraud organization and premier provider of training materials. The entire report can be downloaded at no charge at www.acfe.com.

SMALLER BUSINESSES RANK HIGHEST IN FRAUD FREQUENCY

Smaller organizations continue to rank highest in occupational fraud frequency compared to larger businesses. The average loss was $150,000 per fraud occurrence.

CORRUPTION FRAUD SCHEMES

Corruption is the most common method of fraud in small businesses with fewer than 100 employees while a billing scheme is a close second.

LACK OF INTERNAL CONTROLS

Primary internal control weaknesses showed that “lack of internal controls” were most prominently present in fraud case studies while lack of management review was the next common weakness.

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Internal Control Program Reports

  • Internal Control Reports

      Company organizational chart

      Internal control program detailed

      Internal control program basic

      Risk assessment form

      The Vitalics Fraud Prevention and Internal Control Workbook

     

    • Vitalics Internal Control Forms Bundle List

  • Internal Control Reports

    Company Organizational Chart

    Internal Control Program Detailed

    Internal Control Program Basic

    Risk Assessment Form

      The Vitalics Fraud Prevention and Internal Control Workbook

    Notes Memos and Corporate Forms

    Accounting Work in Progress Form

      Memorandum

    Minutes of the Meeting Log Sheet

    Minutes of the Meeting Template

    Accounts Payable Internal Control Forms List

      Accounts Payable Check Run Form

      Accounts Payable Checklist 12 Month

      Accounts Payable Checklist

      Accounts Payable Reconciliation Form

      Accounts Payable Month End Checklist

      Accounts Payable Month End Checklist 12 Month

      Approved Vendor List Form

    Authorized Signature Stamp Approval Form

      Automatic Payment Update Form

      Automatic Payment Form