Bad intentions aren't always the source of embezzlement. In some cases, addictions, such as gambling, can be at the root of financial misconduct, and in these instances,audit solutionscan be important to the recovery of more than just a business.
According to the Creve Coeur Patch, a former Maryland bookkeeper, Karen Page, was sentenced to five years in prison for thetheft of $234,000from her previous employer, insurance underwriter J. Berg & Associates. She stole the money over the course of three years, writing herself unauthorized checks from the company and depositing the funds in her personal account.
The source noted that Page's crimes were driven by a gambling addiction, which her past employer hoped she would get help for instead of jail time. However, she was unable to commit to paying restitution.
The Post-Crescent recently pointed out thatgambling addictionsare one of the more common causes of embezzlement. In Wisconsin, there are many gaming opportunities, which could exacerbate the problem, Bob Pederson, a business owner who weathered such a theft totaling $500,000, told the source.
"I wasn't completely aware of the nature of intensity of what goes on with gambling addictions," Pedersen said. "It's a big issue. And a lot of people are into some pretty deep water."
In some cases, usingaudit solutionscan get everyone back on the right track. Pederson has been able to recover most of his missing funds, but beyond that, addicts may be able to get help as a result of being caught.
Karl Andersson has devoted his career to helping organizations improve their business processes. For 15 years, he has worked with multitudes of Fortune 500+ companies as the CEO of Technology Insight. Before this, he spent 10 years working in the audit and consulting sectors, which included large international projects in both Europe and Asia.
Karl brings a combination of industry expertise and real-world experience. The diversity of his clients has allowed him to understand a variety of industries, and the unique challenges that each of them face.