David Alexander explains what to do when you suspect an
employee may be involved in fraud.
In the past few years there have been several
high-profile cases of fraud in professional services firms.
However, these headline-grabbing cases are probably just the tip of
the iceberg – most fraud in professional practices is likely
to go unreported.
The sluggish economy of recent years has put increased pressure
on the professions, and partners are not immune to the temptation
to 'put their hand in the till' by inflating results to
protect profit share. In its 2012 survey, the Association for
Certified Fraud Examiners identified manipulation of results as the
most financially damaging type of fraud suffered by any business.
This, together with the increasing regulation of UK plc, has put
the spotlight on fraud in professional practices.
