Five post Chief Financial Officer round-up. This week we’re featuring five articles from around the web on one topic. Our topic this week is fraud in school districts.
1. An “F” for Fraud
This report goes into lessons learned when examining an instance of fraud in the Chicago Public Schools, as well as tactics that can be implemented for better fraud detection.
Learn more on the Internal Auditor.
2. Stop School District Fraud: A Simple Solution
This post examines the role an inspector general or internal auditor plays in controlling fraud in a district.
Find out more on LinkedIn.
3. Unions, Administrators, and Public School Fraud
“There is no foolproof solution for preventing fraud, but the current spending structure in the public school system has too many loopholes.” This article details some ways parents are getting more involved in making sure funds are allocated appropriately.
Read the article on the Town Hall.
4. Preventing Theft, Fraud, and Embezzlement
The Georgia PTA has put together this detailed guide to dealing with fraud, theft and embezzlement with steps that every district official should be taking a look at.
Download the guide on the Georgia PTA.
5. School district outsources procedures and internal control documentation to comply with new audit standards
This case study highlights how one school district decided to outsource its internal controls due to limited resources. It discusses the solutions that were put in place and the results that were achieved.
Read the case study on Baker Tilly.
As technology continues to become a part of financial and human resource processes, it is important for internal controls to be included in management's planning. Dealing with fraud is something every district must be prepared for.
What does your school district's fraud prevention plan look like? Do you have any creative ways you manage internal controls?
Looking for more process help? Check out our post on 4 Hidden Financial/HR Workflow Snags to Eliminate.