Common Misconceptions about Fraud in the Family BusinessBondBeebe
Posting by Jacqueline Thompson
No family-owned business likes to think that their trusted employees would steal from the business –certainly not their family members. Unfortunately, family businesses aren’t exempt from fraud, and assuming that your company is safe from embezzlement, malfeasance, or any other fraudulent act can put your business at grave risk.
In my years of accounting work, here are the most common misconceptions I’ve encountered regarding family business fraud:
Fraud Doesn’t Happen in Family Businesses. Any business is vulnerable to […]