New Year’s Resolution: Minimize Fraudulent Losses in 2012

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Carr, Riggs & Ingram, LLC (CRI) is offering complimentary anti-fraud consultations to local businesses through the end of January.

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As the economy has declined, instances of fraud have increased making now the perfect time to evaluate your business' risk of fraud and take proactive measures to protect your bottom line.

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Carr, Riggs & Ingram, LLC (CRI), ranked as the 32nd largest accounting firm nationally and 3rd largest in the South, is currently offering complimentary anti-fraud consultations from now through the end of January to local businesses in Alabama, Georgia, Florida, Kentucky, Louisiana, Mississippi, Tennessee, and Texas. Anti-fraud consultations help to create and strengthen internal controls that are designed to prevent and detect fraud losses.

Why? According to the Association of Certified Fraud Examiners (ACFE) most recent Report to the Nations survey, the median fraud loss is $160,000, lasts 18 months before discovery, and is typically committed by a trusted employee with no previous criminal record. Additionally, a quarter of fraud cases in the survey involved losses of at least $1 million.

“As the economy has declined, instances of fraud have increased making now the perfect time to evaluate your business' risk of fraud and take proactive measures to protect your bottom line,” states Tommie Singleton, PhD and CRI’s Forensics Scholar-In-Residence.

Small businesses are particularly vulnerable to fraud. Frauds are usually committed by individuals working in: accounting, operations, sales, executive management, customer service or purchasing. These individuals typically display behavioral warning signs – living beyond their means or experiencing financial difficulty. Characteristically, these organizations lack anti-fraud controls and, due to their size, any amount of loss can adversely affect their bottom lines.

Singleton continued, “An anti-fraud consultation is one of the best ways for business owners to learn about basic checks and balances that often are implemented for minimal cost.”

Start the new year with a resolution of preventing fraud within your business. Local businesses may register for CRI’s complimentary anti-fraud consultation by visiting the events section of CRI’s website: http://www.cricpa.com/2011ComplimentaryFraudConsultation.aspx.

About Carr Riggs & Ingram, LLC
CRI is ranked as the 32nd largest accounting firm nationally and 3rd regionally in the South. Today, CRI has over 650 employees in 28 offices throughout Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, Tennessee, and Texas and is recognized as one of the fastest growing firms in the United States. CRI offers comprehensive tax, audit, and consulting services to businesses and individuals. For details regarding our service and industry specialties, please visit http://www.CRIcpa.com or our recently launched blog available from http://blog.CRIcpa.com.

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Bri Harding
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