Most common fraud risk factors

At Grace Frank we can provide businesses with support and advice in many important areas. Here are some of employee fraud warning signs to look out for.

Beware of the most common fraud risk factors for your business. These might include:

  1. Large amounts of cash in hand
  2. Small inventory with a high cash value
  3. Easily convertible assets (eg. tools, vehicles)
  4. Lack of separation of employee duties
  5. Employee awareness of future redundancies
  6. Disgruntled employees with access to significant assets
  7. Poor physical safeguards over cash and other assets
  8. Untimely and poorly organised documentation for transactions
  9. Lack of mandatory holiday for employees performing key control functions
  10. Missing or unexplained documents
  11. Inappropriate supervision - such as remote locations.

If you are looking for professional assistance from a team of accountants and business advisers, contact Grace Frank.

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Grace Frank LLP, Chartered Accountants, is a limited liability partnership registered in England and Wales, Registered number OC375216. Registered office Grace Frank LLP, Unit 10, 1 Luke Street, London EC2A 4PX . Members: Morisha Christy FCA, Morishac Limited. Regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. VAT registration no. GB138 7186 84.