As the story goes, New York Yankee stars Phil Rizzuto and Yogi Berra were on their way to a function in Cooperstown, New York when Rizzuto commented that he thought they were lost. Yogi’s reply? “Yeah, but we’re making great time!” This story reminds me of the way some churches approach fraud prevention. There has […]
What do you think of when you hear names like Enron, WorldCom, and Sarbanes-Oxley? Most of us think of one word: fraud. These two companies who were embroiled in fraudulent scandal and the law passed to “fix the problem” have brought to light the impact fraud has on today’s society. No one knows for sure […]
The first step in fraud prevention is knowing what you are coming up against. In other words, a clear understanding must be gained of what financial fraud is before designing a battle plan to confront it. The Association of Certified Fraud Examiners (ACFE) defines occupational fraud as “the use of one’s occupation for personal enrichment […]
Effective fraud prevention starts with a strong foundation. And the cornerstone of this foundation is organization. Churches “lucky” enough to have avoided fraud are not really lucky at all. Luck had nothing to do with it. These churches avoid fraud because they make sure their organizational structure includes four key characteristics: Proper tone at the […]