Statistics show that three out of five dentists will become a victim of embezzlement at some time during their career. While the monetary costs can be high – on average over $100,000 – the emotional toll of being defrauded by an employee can be equally devastating. Our accounting team at Summit Accounting Solutions is made up of experienced Certified Fraud Examiners (CFE’s) and Certified Public Accountants (CPA’s) with direct experience working in and with dental practices.
Fraud Risk Assessment
Preventing Fraud in Dental Practices | Denver Dental CPA Firm
Internal Controls Review
Stop fraud before it starts! An Internal Controls Review helps dentists build a positive, ethical business environment that is conducive to fraud prevention by making recommendations for office protocol.
We take a comprehensive look at your practice to help set these recommendations and standards. An Internal Controls Review can be performed for any practice that has a proactive interest in creating health practices and protocols to protect the practice from the risk of fraud.
Fraud Risk Assessment
A Fraud Risk Assessment is designed specifically for your dental practice and identifies areas of vulnerability within existing systems to determine where the gaps are that could allow an employee to embezzle from your practice.
Once the areas of risk have been identified, the next step is to prioritize corrective actions, make recommendations to reduce the inherent risks and assist in implementing the necessary changes.
Fraud Exam
A fraud exam is recommended when fraud has been suspected in a practice. This is a highly detailed process executed by a Certified Fraud Examiner who performs interviews, analyzes essential financial statements, and creates a comprehensive report.
A formal report of the findings are compiled and presented to the practice owner. We are proud to combine the expertise of Certified Fraud Examining, as well as a Practice Management to give a broad and comprehensive look at your practice.
What Makes Summit Accounting Solutions Different from Other Dental Accounting Firms?
At Summit Accounting Solutions, we tap into our wide array of resources and strategic partners when necessary to best serve you as our client. This may include financial advisors, attorneys, tax professionals, brokers and more. In the case of fraud prevention in dental practices, we actually have Certified Fraud Examiners on staff who have passed rigorous education and testing requirements through the AFCE to know what to look for and how to prevent fraud in the future.