USPSA Accountant quits over missing $144k
Posted 16 September 2014 - 05:47 PM
Based on my experience as an accountant and an auditor I feel sure that the full $144k amount wasn't stolen. I would also strongly suspect there is a smaller and not justifiable amount buried in that amount.
Based on my experience supervising financial crime investigations; embezzlement, theft; I'd suspect the missing money went up her nose, gambling, or lavish home improvements or vacations.
More often, whatever the victim reports is less than the actual loss. I've seen victims report 30K, and see it actually 300K when it's all said and done.
The BOD should place the suspect on leave, do enough "investigating" to see there is a problem, and hire an Attorney and Forensic Accountant. Most business screw this part up pretty bad. Act fast and you might be able to recover some of your losses....
I see it all the time. Groups like ours; little league, small towns, small business, get ripped all the time.
- Nimrod likes this
Because of who I am dawg = EABOD
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