How do incidents like this happen?
How many times recently has the newspaper written about the kind of theft like the one that occurred recently at a local preschool?
Isn’t is absolutely AMAZING that $165,000 is missing, and nobody saw anything irregular and/or unusual during this person’s term of employment?
She is accused of writing 257 checks to payees (cash, or to herself) that surely would NOT be what a preschool account would be remitting, and nobody noticed this? She also is accused of running $11,400 in debit payments, which are itemized monthly by the financial institution, and nobody noticed this either? Apparently, she left a trail that a bloodhound with a sinus condition could easily follow!
What organizations operate without periodic audits of their accounts receivable and payable? As I see it, they are organizations who beg for theft and embezzlements! Wouldn’t it be financially expedient to pay a CPA to audit the accounts, which would discover any irregular activity in its infancy, instead of trying (and hoping) to recover the stolen money after an investigation, arrest and court trial?
Wake up, administrators and managers. Someone could have a hand DEEP in your pockets!
Ronald J. Yamka
Canonsburg