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Businesses must take steps to protect against misappropriation of funds

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Businesses must take steps to protect against misappropriation of funds In the last year, there have been numerous embezzlements and defalcations reported, mostly involving small businesses. These can be prevented by a few simple low-cost controls. One of the most important is separation of responsibilities of asset custody and record keeping for these assets. For example, someone other than the person who receives and disburses cash and writes checks should record these in the accounting ...


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