Issue link: http://www.insightdigital.biz/i/133826
PROFESSIONAL SERVICES A closer look Computer safety Scott Shaffer, Grant Thornton Wisconsin Practice Leader for Forensic and Valuation Services, says that businesses should encrypt their computer records, especially if they contain customer information and customer credit cards. Never keep financial records on a company's Web server – hackers can get into those easily. And set up firewalls to protect your systems. Design/Build • General Contractor – Commercial – Agricultural – Industrial (920) 498-9300 | baylandbuildings.com | 34 | Insight • J u n e 2 013 are signed appropriately and there is an invoice." With credit cards, insist on the itemized receipt. "I have a lot of construction contractors and managers who need to buy supplies," Mathias says. "They will go to Menards, which has building supplies plus TVs and groceries. It is very easy for them, if the controls aren't in place, to buy all their groceries, plus a TV, and give the credit card receipt and say it was all for building supplies." Mark DeBroux, a CPA at Schenck in Appleton, specializes in medical practices. He says a dentist whose staff consists of himself, a hygienist and a receptionist shouldn't leave all the finance to the office person. Professionals sometimes tell him they don't want to be involved; he just tells them it's their business. "You need procedures in place and segregation of duties so the person taking cash can't delete appointments from the system," DeBroux says. "Set it up in your software." Medical practices have the same challenges as other small businesses, except that doctors and dentists often are more hands-off, which creates opportunity for fraud. The revenues are higher too – the median loss from fraud in medicine is $155,000. Audits only discover a small portion of fraud, about 4 percent. More than 30 percent is found from an operational assessment where an accounting professional walks the money through the business looking for fraud opportunities, he says. w w w. i n s i g h t o n b u s i n e s s . c o m