A former mechanic, with authority to approve some maintenance contracts, recently pled guilty to stealing $1.1 million from the Woodruff Arts Center, the Atlanta area’s largest cultural center. He faces a possible prison term of 41 to 51 months. According...
A former mechanic, with authority to approve some maintenance contracts, recently pled guilty to stealing $1.1 million from the Woodruff Arts Center, the Atlanta area’s largest cultural center. He faces a possible prison term of 41 to 51 months. According to prosecutors, the employee used bogus invoices and kickbacks from a vendor to steal from the center over several years.
One way to thwart this type of embezzlement is for the executive director to co-approve invoices — particularly large ones. And do a little digging to make sure expenses and the vendors providing the services are legitimate.
More Articles
Digital sales, software, inventory, and multistate operations can expand a company’s state tax footprint. Understanding where obligations arise can help businesses manage exposure and plan...
In cannabis transactions, key details may carry over after the deal closes. Understand how prior tax filings, Section 280E, and deal structure can shape a...
From the monthly close to internal controls and board reporting, strong financial management depends on a series of interconnected practices. AAFCPAs’ David Kelleher and Lauren...
