What can be done to stem the tide of fraud and embezzlement at small firms and non-profits?

Here is the link to my letter to the editor today:

http://www.pressherald.com/2015/11/11/letter-to-the-editor-cpa-firms-need-to-offer-free-reviews-to-nonprofit-groups/

For those who are skittish about clicking on links, here is the text:

The former treasurer of the Winslow Travel Soccer Club pleaded guilty Nov. 5 to stealing almost $15,000 from the club over a 2½-year period.

I’m tired of seeing headlines like this. For very small organizations that cannot afford to hire certified professional accountants to review their activity and controls, I think local CPA firms should step up and offer free internal control reviews to these groups to help protect them from the scourge of embezzlement.

The firms can afford the time outside of their busy season, and the goodwill would be an investment.

Some lawyers contribute many pro bono hours to the public. It’s time CPAs did the same thing. I suppose some do already, but we need to reach out to these groups, and we need to do more.

Benson Dana, CPA

Cape Elizabeth

 



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