Facts about risk losses to businesses

The SAS Institute concluded that 90% of all companies in the financial sector have lost
more than $10 million yearly due to poor risk management.  Gary Cohn, President of
Goldman Sachs, noted, “Poor risk management, and not sophisticated products, is to
blame for financial-company losses and failures” (Bloomberg Business Week,
September 25, 2011).  

Forensic accountant Tracy Coenen writes that 91% of fraud schemes occur by asset
misappropriation.  However, its costs dwarfed financial statement reporting fraud,
which cost companies as much as $2 million.  

A Sacramento, California construction company suffered a financial loss in 2011
when an accounting manager embezzled nearly half-million dollars.  Other risky events
can bring businesses to their knees financially.  The emergence of newer risks to a
company’s existence causes risk management to leap in attention among business
executives and owners.
** SOURCE:  Jan Norman, Orange County Register, CA June 8, 2010
 
TAKE ACTION

Learn how you can better secure your business from theft, embezzlement,
fraud, and other losses.  One occurrence can be costly to your company.

Call today to find out how we can help prevent losses in your business
through:

  1. Financial Benchmark – Identification of weakness leading to losses
    and strategies for improvement
  2. Internal Control Scorecard -  Scores risks in your business lending
    to fraud, theft, embezzlement, and other losses
AFB Business Solutions
Sacramento, California
Part of the Greater Sacramento Metropolitan area
consisting of
Elk Grove, Sacramento, West Sacramento, Roseville, Citrus Heights, Orangevale, Rancho Cordova, Folsom, Gold River, Fair Oaks, North Highlands
Contact Us
About Us
Why take risks with
your business?
Fraud, theft, embezzlement, and other losses constantly threaten
your business!  What do you do about it?
AREAS WHERE LOSSES OCCUR
  1. Cash handling
  2. Equipment not secured and tracked
  3. Claims for injuries = Employee policies
  4. Poor documentation for financial transactions
  5. Unsecured accounting system and not using all its protective features
  6. Credit card controls and limits
  7. Lack of authorization over expenditures
  8. Access to sensitive information
  9. Negotiable instruments not secured: Checks, credit cards, EFT transfers
  10. Work flow not well established
AFB Business Solutions
Call us for an appointment to discuss your options in confronting risks affecting your business and solutions
for them before they become BIG problems -
(916) 585-9612
Watch your business and you watch your money!  $$$
Learn more about planning for risk management in the upcoming book
Customer-Driven Budgeting, Prepare,
Engage, Execute: A Small Business Guide.  
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AFB Business Solutions
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