Are you at risk for embezzlement? Infographic: There's a better-than-average chance a small business will be the victim of embezzlement. Here's how to spot the problem.
TUSCALOOSA, Ala., May 13, 2013 /PRNewswire/ -- Small business owners – including construction contractors – can be so intent on customer service and field operations they are oblivious to the danger of embezzlement, according to Randall-Reilly's Construction University website, www.theconstructionuniversity.com.
"These businesses have small staffs doing multiple jobs," says Allan Bachman, education manager, Association of Certified Fraud Examiners. "And many small business owners don't have a full understanding of their accounting processes. They trust others to do it, and that trust can be misplaced."
Top 10 signs you may be being embezzled is an infographic produced by two of Randall-Reilly's leading construction magazines, Equipment World, which goes to construction equipment owners engaged in a variety of work; and Better Roads, directed to the road building community. It presents the top reasons a small business owner might want to take a closer look at the person who handles their finances, plus other signs their business might be at risk:
- An employee who is territorial, defensive about "their area," and their work.
- Sudden signs of wealth.
- A profit-loss statement that doesn't add up. The business is not making the money the owner knows it should be making.
In addition to the infographic, the Construction University website offers a number of resources for small business owners, including a downloadable "15 actions you can take now to counter embezzlement," embezzlement statistics, and the details of one contractor's embezzlement. Construction University, created to foster business knowledge in the construction community, is sponsored by Case Construction Equipment.
To download or share the info graphic, go to http://www.theconstructionuniversity.com/embezzlement-infographic/#
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