According to the National Fraud Information Center – credit card fraud in the United States has reached nearly $1 billion. Did you know that nearly 70% of credit card fraud occurs during the holiday season?

Editor Rod Smith’s September 2021 Column for Internal Controls.

Editor Rod Smith’s August 2021 Column for Internal Controls

June 2021 Internal Controls Column by editor Rod Smith

Rod Smith reflects on the importance of careful review when overseeing business transactions.

Only 21% of account holders reconcile their personal checking account. However, reconcilers are likely to encounter some time of reconciling item throughout the year. Are you keeping a clean audit trail?

A few cases of fraud attempts have been reported using fraudulent UNC Purchase Orders and forged signatures from employees of record at the university. In addition, we’ve had reports of supplier phishing requests. Please use diligence in protecting University resources.

January column for Rod Smith for the Internal Controls newsletter.

A team of employees were evaluating costs for their organization – they noticed a spike in inventory over the past couple of years. So, what was the driver? They narrowed their findings and found that the increased costs were related to transmission parts, truck batteries and tires. Because the organization specialized in long haul truck repairs, it wasn’t unusual for this business to carry a larger inventory of those items.

Why Speed and Training Matters Rod Smith, Director of Internal Controls The Association of Certified Fraud Examiners (ACFE) annually publishes their Report to the Nations https://www.acfe.com/report-to-the-nations/2020/ – this is a global study on occupational fraud and abuse.  In the Report, … Read more