Prevent Fraud From Damaging Your Business
Andrew Rogerson
in Management and Planning, Money 2.0 radio show with Andrew Rogerson
Fraud costs many businesses more than it should, can threaten the very survival of the business and ties up its owner in emotional knots. Mike Ueltzen is a partner in the firm he founded some 16 years ago called Ueltzen and Co. The practice has three main areas of expertise and these are forensic accounting, economic damages, business valuation and tax & accounting.
Although Mike is a partner in Ueltzen and Company; which has a firm of 20 members that specialize in the above areas, he was recently a guest on my radio show when we had a conversation about his area of expertise which is forensic accounting.
If you own a business and have lost money fraudulently or own a business and are worried what to look for and how to protect your business, listening to my conversation with Mike as it will be invaluable to you. Some of the topics we covered in my conversation include:
- Is there a typical profile of an employee to watch for that a business owner should be more aware?
- Does fraud happen at all size companies or more prevalent in the middle to larger size companies?
- Are certain types of business more prone to fraud?
- What are some of the methods a fraudster uses?
- If you were hired by a client, where would you be spending your time and focus?
- Is a fraud typically a one off event or does it occur over a period of time?
- Do fraudsters tend to work on their own or do they have an accomplice?
- How and what does a company do to uncover a fraud?
- How do employers typically respond when the find out a fraud has been committed?
- Is there such a thing as a typical amount a fraud costs a business?
- Do you help companies set up or create fraud prevention strategies?
- What are some of the simple steps you can take to prevent fraud prevention?
To help but my conversation together with Mike, he sent me a 45 page PowerPoint presentation he has put together for his clients that is chock full of information and tips. If you would like to view a PDF version of Mike’s presentation simply click this link Fraud prevention suggestions from Mike Ueltzen.
If you would like to hear my conversation with Mike Ueltzen, you are welcome to listen by clicking on the following link – Mike Ueltzen. Mike was the first guest for the show and so my conversation with him starts about 3 minutes into the recording.
