I have worked with many small businesses, such as restaurants, ice cream shops, hardware stores, - you know - the little guys. You walk in, find what your looking to buy, go to the counter and pay for it. If its not the owner of the business, it is someone that he or she has hired. Someone that they have placed confidence in. Unfortunately, It is the small businesses that simply do not have the resources to fight theft and fraud until it is too late, after the damage has been done.
Recently, I was at a beach bar in south Florida that had an interesting sign, which I thought was pure genius, if you do not receive a receipt for your purchase, or if it does not match what you ordered, call this number and receive a 25.00 gift card.
I have not seen something like this before. In fact I go to this place every year, and the sign is new.
In terms of internal controls and fraud prevention, this is absolutely genius. It is extremely simple, no security cameras, no fancy oversight, and it continuously monitors itself.
1. Employees are aware of the program, there is no need for an elaborate screening process.
2. Monitoring is automatic, all done by customers
3 No experts are needed
4. Cost effective, just a phone number is needed.
Sometimes the best internal controls are the simplest.
Doug Zandstra CPA CFE EA
Certified Public Accountant
Certified Fraud Examiner
29 Pearl St NW, Ste 225
Grand Rapids, MI 49503616 970 3000