It doesn’t matter how great the system is.
By Ed Mendlowitz
77 Ways to Wow!
My last column addressed the importance of controls when trying to get a client. But it is also important to retain the client. A good system that is not monitored is a sure way to not only lose the client but be kept awake at night.
MORE: How to Explain Internal Controls to Clients | The Ten Financial Controls That’ll Make You a Hero | Five Cash Reports You Can’t Live Without | When an Audit Is a Great Thing
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If you have been around long enough, you’ve experienced a theft at a business or not-for-profit organization. For nearly ever fraud I have seen, the slightest effort would have thwarted those frauds. Nowadays the only frauds I encounter are new engagements, where I try to quantify what was taken.