Meara Welch Browne, P.C. - Certified Public Accountants

Organizations suffer tremendous costs as a result of occupational fraud and abuse. Occupational fraud and abuse is a widespread problem that affects practically every organization, regardless of size, location, or industry. Small businesses suffer disproportionately large losses due to occupational fraud and abuse. According to the 2004 Report to the Nation – On Occupational Fraud, the median cost experienced by small businesses was $98,000. The loss caused by occupational fraud is directly related to the position of the perpetrator. Frauds committed by owners and executives caused a median loss of $900,000, which was six times higher than the losses caused by managers, and 14 times higher than the losses caused by employees. The most cost-effective way to deal with fraud is to prevent it. According to the CFE study, once an organization has been defrauded it is unlikely to recover its losses. The median recovery among victim organizations in the study was only 20% of the original loss. Almost 40% of victims recovered nothing at all. Meara Welch Browne. employs Certified Fraud Examiners, qualified and experienced to assist you is designing fraud prevention controls and detecting fraud in your organization.

Meara Welch Browne, P.C. | 800 West 47th Street, Suite 430 | Kansas City, MO 64112-1246 | 816-561-1400 | 816-561-6296 fax