This most recent fraud case did not come to light until after almost 15 years of money going missing from the school’s cafeteria funds. Most likely the total revenue stolen over this period approached $1.5 million. Due to the statue of limitations the investigation can only cover the most recent 5 year period.
Having a proactive fraud prevention program in place encourages a culture of honesty with any business or organization. Think of fraud prevention program as an asset protecting your financial well being just like installed security cameras, alarm systems or fire detection and sprinkler systems.
A comprehensive fraud risk assessment will reveal areas of weakness with in your control systems.