Read time: 15 minutes.

This article was planned & written by Serena Shoup, CPA without the assistance of AI. Thanks for taking the time to read something developed by a human!

90% of employees are capable of committing fraud.

Buckle up, friends, this one is a case study and a warning to small businesses everywhere. I’ve already written about external fraud here, but what we’re talking about today is internal fraud & the potential for it happening to you. This can happen to anyone, no matter how much you trust your employees.

Trust is not a control

The following is a true story, that happened to one of my clients.

But before we get into that:

I was trained in my profession to be skeptical. The Accounting & Audit world calls this professional skepticism. It is engrained in us from day one of our degree program. This isn’t something all bookkeepers have. In fact, if you are a bookkeeper or accountant reading this, and you aren't part of the 10% who would NEVER commit fraud, I...