Preventing fraud in your agribusiness

By Emily Zuver, Senior Assistant Accountant- Holbrook & Manter

Fraud effects all types of operations, even farms and agribusinesses. As an accountant, I have helped multiple business owners navigate this stressful situation that is unfortunately happening more and more. Developing clear best practices can safeguard you against potential fraud schemes.

I’d like to encourage you to start by reviewing your bill payment process. Do you have a process in place? Typically, you would gather your bills, enter the information into the bill pay platform, and send the payments. Let’s take a closer look at each step so you can safeguard your business.

First, gather bills that need to be paid. Decide a frequency of when you will be paying bills. This allows you to dedicate time and attention to bill payments instead of rushing through, which can help reduce potential fraud.

Request a W-9 from any new vendors you will be paying.… Continue reading