[nfbmi-talk] Nac tracking in a new way

Sun Nov 23 12:33:10 UTC 2014

Same leadership of one, Bill Robinson, here's an interesting note from NAC's 
blog though that they might consider themselves:
Tips for Avoiding Fraud

By

Bill Robinson

May 8, 2013

Uncategorized

Tips for Avoiding Fraud

Note:  It is very unlikely that fraud will be detected by your outside 
auditor or CPA; however, your outside auditor or CPA can recommend policies 
and procedures

to help deter fraud and embezzlement.  In addition, when employees know that 
there are policies and procedures in place and those policies and procedures

are enforced and respected then the chances of fraud diminish.

Internal Controls

1.   Separate the duties of receiving funds, disbursing funds, writing 
checks, signing checks, and reconciling bank accounts. Having one employee 
responsible

for all cash-related functions makes you vulnerable to fraud.

2.   Have the monthly bank statement delivered unopened to the CFO, 
Executive Director or Board Treasurer who should review it for unusual 
transactions

such as declining deposits and unfamiliar payees.

3.  The CFO, Executive Director or Board Treasurer should look for a) 
signatures or endorsements that look forged, b) missing checks, c) check 
numbers that

are out of order, and d) checks where the payee listed does not match the 
name in the check register.

4.   Consider an independent review of the cash accounts and bank statements 
by an anti-fraud specialist.

Employment Conditions

 5.   Institute background checks on new employees, and notify job 
applicants that their backgrounds will be checked.

6.   Employees who receive regular and recurring training about the 
detrimental aspects of fraud are more likely to aid in controlling it.  Your 
outside

CPA can assist with this training.

7.   Employees who feel well-treated and adequately compensated are less 
likely to commit occupational fraud than those who don't.

8.   Employees who hold grudges against their employers - whether or not 
justified - are more likely turn to occupational fraud and abuse.

Workplace Conditions

9.    Insist that employees take a vacation for at least one week every year 
and use that time to have the books reviewed for discrepancies.

10.   Adopt a tip hotline or complaint-reporting mechanism that will enable 
employees, vendors, customers, or outside sources to report suspected fraud

anonymously or without fear of reprisal.

11.   Employers can gain valuable information by simply asking questions in 
a non-threatening, non-accusatory manner.

12.   Conduct internal and external audits, especially a "fraud audit" 
instead of a "general audit" if you suspect fraud.

Automation

13.   Have an accounting software program expert, preferably a CPA, do the 
initial set-up of the program to make sure that helpful features are turned 
on

and unhelpful features are turned off.

14.   Access to personnel and vendor master file records should be password 
protected and restricted by job function.

15.   Computer systems should create an audit trail of all changes made to 
the vendor master file records, including an identification of those who 
made

the changes.

16.   Changes to vendor master file records should require supporting 
documentation, supervisory approval, and independent review.

Thanks to Camico Mutual Insurance Company for putting this list together.

Source from NAC wblog:

http://090.6a8.myftpupload.com/tips-for-avoiding-fraud/

----- Original Message ----- 
From: "Terry D. Eagle via nfbmi-talk" <nfbmi-talk at nfbnet.org>
To: "'Lydia Anne Schuck'" <lydia.a.schuck at wmich.edu>; "'NFB of Michigan 
Internet Mailing List'" <nfbmi-talk at nfbnet.org>
Sent: Sunday, November 23, 2014 12:05 AM
Subject: Re: [nfbmi-talk] Nac tracking in a new way

> Does anyone know if NAC has undergone any reform over the years, or just 
> the
> same ol' NAC?
>
> -----Original Message-----
> From: nfbmi-talk [mailto:nfbmi-talk-bounces at nfbnet.org] On Behalf Of Lydia
> Anne Schuck via nfbmi-talk
> Sent: Saturday, November 22, 2014 7:01 PM
> To: nfbmi-talk
> Subject: [nfbmi-talk] Nac tracking in a new way
>
> Anyone want to be on the NAC board?
> Seeking Board Members with Education, Legal, and/or Rehabilitation
> Background
> The National Accreditation Council is seeking qualified Board members who
> possess specialized knowledge in the areas of Education for the Blind,
> Business Law and/or a background in Rehabilitation for Blind and Low 
> Vision
> Consumers. Interested applicants may send a brief bio to the contact 
> listed
> with this announcement. We are a consumer-oriented international 
> accrediting
> body for blind and low vision services. Our Board meets twice a year in
> January and June or July. Board members are asked to contribute 
> financially
> and serve on at least one committee.
> Contact: Bill Robinson
> Phone: (423) 875-2033
> Email: bill at nacblvs.org
>
> Lydia
>
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