Aspect 2 and 3
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What Does a CFO Do?

What Does a CFO Do? | Aspect 2 and 3 | Scoop.it

For many privately held businesses, the decision to hire a chief financial officer (CFO) is often a difficult decision.  Beyond the issue of whether the company can afford a high-caliber financial ...

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Fraud Within Companies Is A Risk That Can Never Be Eliminated, Just Managed

Fraud Within Companies Is A Risk That Can Never Be Eliminated, Just Managed | Aspect 2 and 3 | Scoop.it
Business has always been plagued by fraud: witness the South Sea Company in the 1710s (which enveloped the British economy in a giant bubble) or Charles Ponzi's Securities Exchange Company in 1920 (which gave the world the Ponzi scheme) or the...

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Tyler Smith's comment, March 5, 2014 12:36 PM
There is no real way to stop fraud. It will always happen, and always be a burden to business. Whether it is carried out by someone in the 1% like Bernie Madoff or just a hired hand, it wil always happen. The only thing that you can really do to prevent or at least lighten the brunt of it is to treat the problem professionally. Getting out of control when an issue such as this comes out has the potential to run your business into the ground.
Tyler Smith's comment, March 5, 2014 12:38 PM
"The risk is particularly acute at the moment. Companies are straining the bonds of loyalty. They are making ever more use of contractors and temporary workers. They are putting more pressure on employees to hit targets; they are also holding down the wages of the majority of workers while increasing the boss's pay. This is all happening at a time when economic activity is shifting to the emerging world (where corporate fraud is rife) and to the internet (where fraudsters are having a field day). Kroll, a security consultant, found that 70% of the companies that it studied were affected by fraud in 2013, up from 61% in the previous year.
Tyler Smith's comment, March 5, 2014 12:38 PM
The last comment should have quotes around the whole thing