Fraud Scheme Stories and Lessons with Bernadette Harris

Welcome back to another episode of "Keep What You Earn"! Today on episode 442, we are delighted to have on board the amazing Bernadette Harris, a forensic accountant and a Certified Fraud Examiner, who is passionate about helping small business owners prevent fraud. Bernadette, with her 22 years of experience, is here to share some gut-wrenching stories of fraud that led some small businesses to closure, and provide vital lessons on how to spot fraud and prevent it. Some of our key takeaways today include understanding the importance of checks and balances, spotting patterns and disruptions in business operations, and how you, as a business owner, can guard yourself against potential fraud. From understanding different types of fraud such as payroll fraud or embezzlement through fake vendors, to preventing it with the 'trust but verify' principle, this episode is packed with value. So tune in, as we dive deep into the world of numbers and explore the shadowy undercurrents of fraud with our very special guest, Bernadette Harris!

Bernadette Harris is an accomplished entrepreneur who is dedicated to supporting small business owners with their accounting needs. She leads her own company that provides bookkeeping, controller services and even CFO services to clients. Bernadette is passionate about ensuring that her clients have a comprehensive accounting system and fully understand their financial data. Recognizing that many people feel intimidated by numbers, she focuses on facilitating illuminating conversations to help business owners forge stronger relationships with their own figures, working towards more informed decision-making.

Connect with Bernadette Harris:

Facebook: https://www.facebook.com/TrustBernadette

Linkedin: https://www.linkedin.com/in/trustbernadette/

Twitter: https://twitter.com/TrustBernadette

Instagram: https://www.instagram.com/TrustBernadette

Youtube: https://www.YouTube.com/TrustBernadette

Website links: https://trustbernadette.com

https://thebtbadvisoryfirm.com/

What you'll hear in this episode:

[06:42] Bernadette pursued education, certifications to combat fraud.

[12:08] Fraud brings hefty penalties, affecting trust/account. Payroll investigation uncovers employee deception, risk undetected.

[15:06] Pay attention to your business and vendors.

[16:18] Importance of noticing patterns, disruptions, and control.

[23:03] Deceptive assistant financially drains rockstar businessman.

[26:16] Comfort leads to theft; greed takes over.

[30:41] Forensic accountants uncover and resolve employee suspicions.

If you like this episode, check out:

Take Advantage of an Accountable Plan in Your Business

Key Financial Metrics for Success in Product-Based Businesses

Tax Deadlines You Need to Know as a Small Business Owner

Want to learn more so you can earn more?

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.