Business Services Industry
Technology's impact on professional liability.(PROFESSIONAL LIABILITY)
CPA Technology Advisor, The, June, 2006 by Rosario, Ric
When automated accounting and banking programs were first introduced, there was a common and misplaced expectation that technology would somehow automatically prevent such problems as embezzlement and identity theft. As we move further into the computer age, though, it's becoming obvious that the human factors involved in working with automated systems are essential to minimizing thefts and managing risks.
The most common embezzlement scenario in the small business world involves a business owner who is so busy running the operation that the control of financial matters is entrusted to an employee with an accounting software program. The program enables one person to perform all of the cash-related functions of the business, thereby bypassing basic internal...
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