Skip to main content

From the Editor’s Desk – Rod Smith February Column

February 8, 2021

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?

Fraud Alert – Purchase Orders and Supplier Phishing

February 3, 2021

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.

From the Editor’s Desk – Keeping Inventory

December 3, 2020

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.

From the Editor’s Desk – Why Speed and Training Matters

November 11, 2020

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 – this is a global study on occupational fraud and abuse.  In the Report, … Read more

From the Editor’s Desk – Be Aware

October 7, 2020

by Rod Smith, Director of Internal Controls Have you ever noticed how organized and clutter-free banker offices are?  A clerk usually has a computer monitor on their desk, a telephone and possibly a calendar.  Sometimes, you will see an occasional … Read more

From the Editor’s Desk – A Story of Obligation

August 28, 2020

Internal controls come in all kinds of shapes and sizes. For example, training, awareness, and reporting all have an element of control embedded in them. When we’re tasked to do something, we have an obligation to ensure that it’s done … Read more

From the Editor’s Desk – Business Intelligence

July 29, 2020

This month, I’m sharing a story about business intelligence (BI). It’s easy to get caught up in just processing business transactions and not think about the stories they’re telling, but there’s so much valuable data that we capture that can … Read more

From the Editor’s Desk – Falsified Documents

June 30, 2020

By Rod Smith An employee received notice that their organization was about to be audited. The auditors provided a list of items to be pulled and have available upon their arrival. As the employee was pulling the requested items, she … Read more