CFOs help to ensure there are no financial surprises

Luca Pacioli and Benedikt Kotruljevic both have been credited for inventing double-entry bookkeeping. The system has served as the backbone of accounting since the 15th century. At the same time, there’s always been a need for someone to properly analyze the data. Enter the chief financial officer. What’s a CFO? The term takes on different […]

Diligence offers protection from mortgage fraud

The term “fraud” often refers to a business whose accounting department had substandard internal controls and the bookkeeper was able to steal the owner’s cash. We take some interest in the story at the time, but then quickly forget about it after the paper has been set down. We tend to think that if we […]

With internal controls, ignorance dangerous

The English poet Thomas Gray wrote, “Where ignorance is bliss, ’tis folly to be wise.” Over the years, this quote has been abbreviated to the more simplistic “ignorance is bliss.” Many times in our lives we believe that saying holds merit —the number of calories in that chocolate truffle you just ate or how much […]