Case Studies

Case Study of the Month

A Cool Million

A trusted 20-year manager managed to steal at least $1 million from a small firm over 5 years. The manager controlled all aspects of bookkeeping except one of three owners signed all checks, and a local CPA firm prepared month end financial reports. The manager used a variety of schemes involving payroll (doubling her pay), […]

Recent Case Studies

Friendly Bank Teller

When an accountant or bookkeeper opens the mail, prepares the deposit, records receivables and deposits in the accounting system, and reconciles the bank statement, the opportunity to steal is tremendous. One enterprising bookkeeper opened a personal account at the same bank where the company banked, where she also happened to have a friend who was […]

Family Business

The long-term trusted manager of a small company hired three of her sisters to work there, as an accountant, accounts receivable clerk and a clerical position. All financial transactions and mail went through one of the three sisters. Can you guess what happened next? When the company installed a new computer system and changed its […]

Credit Cards

A company had an online account at Office Depot. Without authorization, the company bookkeeper opened up a credit card at the supply store. She used it to purchase gift cards and sold them on eBay. The bookkeeper was responsible for reconciling the month end statements, so no one at the company noticed. One year and […]

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