When you lose your wallet or have your purse stolen, it is a big deal. Your money, your identity, your security are all gone, and your financial situation goes into Code Red. But you are just one person, with only so much money.Just imagine that the same is true for a business, except that instead of a thousand dollars missing, it is hundreds of thousands, even millions. All things halt when money goes missing, and the dogs are sent out to trace the loot.
Finding and retrieving what has been stolen from a business is called investigative auditing. It is the forensic side of accounting. It is a skill that only a select few people have, as it requires not only knowledge of accounting but also the ability to perform investigative techniques. Below is an outline of what is involved.
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