Bennett Thrasher Shareholder, Patrick Braley was quoted in “Fraud Signs There, For Those Who Dare to Look,” an article published in the Atlanta Business Chronicle on January 18, 2013 as part of the Law & Accounting special section. The article discusses occupational fraud, and for Braley, a forensic accountant and certified fraud investigator, the type of fraud committed can be a sign of the times. He explains that “you don’t see as much cooking the books now, but more individuals who have access to the cookie jar are taking extra and rationalizing it?”
Braley further explains that just because the financial statements show that a company is profitable, and just because it has cash in the bank, it doesn’t mean that the business shouldn’t actually be doing a whole lot better than it is. Most businesses think fraud will only happen to someone else. In reality, this thinking, along with a lack of internal controls, is the reason companies around the world lose an estimated 5 percent of annual revenues to fraud.
For more information on occupational fraud, and ways to ensure your company is protected against it, contact Patrick Braley or call 770.396.2200.