Preventing accounting malpractice from destroying your company

In an effort to protect your organization's financial structure and build a trustworthy relationship with clients, you have hired the best accountants and financial representatives to handle the money that goes into and comes out of your business. As such, you rely on them to provide honest work and to complete their designated responsibilities with integrity, timeliness and transparency. At St. Denis & Davey, we have helped many companies in Florida who have unfairly found themselves a victim of accounting malpractice. 

One of the best things you can do to mitigate the risks of fraudulent accounting practices in your company is to provide adequate training and education to departmental leaders and employees on the type of behavior you expect. You should encourage transparency and full disclosure. You should implement a protection policy for whistleblowers to utilize if they recognize something questionable. 

Insureon suggests that some of the ways that your accountants can prevent malpractice from occurring include the following:

  • Provide your workers with a clear outline of their job description, duties and responsibilities. Leaving no area for personal discretion can help eliminate questionable behavior. 
  • Be wary of conflict of interest and train your workers to recognize when certain situations could potentially lead to a conflicting scenario. 
  • Implement and regularly audit accounting procedures to guarantee that your employees are upholding the values you desire for your organization. 

By providing your employees with proper education and training, you may be able to circumvent accounting malpractice before it has the chance to destroy your business's success. For more information if you have been the victim of legal malpractice, visit our web page. 

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