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Would I Lie To You?Monday 05/28/2012
DwayneDwayne Briscoe / Bookkeeping-Results, LLC
Owner / QuickBook Pro Advisor

888-692-2083 / 713-898-1648

www.bookkeeping-results.com
Would I Lie To You?

 

As taken from the song by Annie Lennox of the Eurythmics, it’s interesting that in this day and age people still have a propensity to consider someone “innocent until proven guilty” on most all levels, especially in the work place.  However that’s not always the case for people who investigate fraud and corruption at all levels of business.  As a member of the Association of Certified Fraud Examiners (ACFE), it’s come through a variety of resources that has helped me when assisting with the review of clients’ financials to make sure that not only everything is in order but also above board.

 

Recently they focused on a member, Pamela Meyer, and her bestselling book, "Liespotting: Proven Techniques to Detect Deception."  Yes there’s an actual industry out there which has not only come to the forefront in business management today from the likes of Enron and Bernie Madoff, but it trickles down through the smallest of business owners.  In fact, the founder of the ACFE, Dr. Joseph T. Wells, specifically wrote in his autobiography is that “everyone lies.”  Whether it’s for personal or business purposes, it happens on a variety of levels and business owners especially need to be aware of the potential conflicts that can wreak havoc on their business, should they not spot the tell-tale signs of managing their business properly and trusting 100% in their “trusted people.”

 

What makes a person lie?  For a variety of reasons, that may include, fear, peer pressure, financial gain, a feeling of self-worth, etc.  How can we stop it from happening?  We can’t – it’s something that most everyone is pre-disposed to.  It’s estimated that a person, on average, can spot a lie 54% of the time, which isn’t really great odds when you think about it.  However, above all else, to a certain extent, you need to consider giving people the benefit of the doubt until the situation comes up where you have to question not only their loyalty but honesty.

 

When it comes to talking to someone within your own business about financial discrepancies, there are certain key points that you should consider:

 

1.         What is their reasoning behind how the “books look” and allowing things to go on for so long where it becomes a financial disaster for the business?  So many people feel that their CFO, Comptroller, etc. is handling everything but in essence, the buck stops with you.  If you haven’t been monitoring your numbers, having a back-up plan if that person suddenly leaves for suspicious or legitimate reasons, then how does that help you in the long-term?

 

2.         Are all of your documents available at a moment’s notice, or are they all over the place, disorganized, or even not in the office?  This is a key factor that if someone constantly takes their work home with them, that leads to an open door of fraud.

 

3.         How often do you bring someone in from the outside to review your company’s work?  People often feel that auditors are often considered too expensive and seem to not be able to dig down deep to see if anything is wrong.  However, have you considered hiring someone who is a trusted accountant or bookkeeper within your industry from a colleague for a “review” of your books, with the appropriate nondisclosure agreement in place to protect your information from outside sources?  It’s imperative to always have that 10% of doubt with everyone who works for you, including family, because it just makes things worse when it’s too late to try to recover.

 

 

About Our Show Advisor: Dwayne Briscoe is the founder and owner of Bookkeeping-Results, LLC.   Dwayne began his company in January 2007, based on the foundation to educate small business owners and bookkeepers who use QuickBooks®.  Working as a full-charge bookkeeper and trainer in a variety of industries for over 15+ years, he is a certified Pro Advisor with 5 certifications, including Enterprise Solutions and Point of Sale.  He is also an instructor at Brazosport College in Lake Jackson, where he teaches basic accounting, QuickBooks®, and basic payroll, along with hosting his own private classes.

 

Bookkeeping-Results, LLC has focused more on quality and not quantity for their clients, by paying attention to the details.  Through regular continuing education participation, as well as exploring additional ways of “thinking outside of the box” to help expand people’s knowledge of their own financial well being, it’s important to focus on not only saving the client money but also making the client money.

Previously broadcast from:
SKL @ BlogTalkRadio.com 11/07/2011 - 01/03/2014
CBS Radio's Talk 650 10/12/2009 - 07/01/2011
CNN 650 Radio News 11/08/2006 - 10/08/2009
KSEV AM700 04/04/2005 - 10/30/2006

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