Orthotown January/February 2018 - 50

3. Get help.
The legal and accounting issues
related to an investigation are insurmountable. Fraud investigation is not
a do-it-yourself project!
When embezzlement is first suspected, it may be more serious than
it initially appears. Trying to "go it
alone" or getting assistance from wellintentioned advisers (who may have
excellent professional credentials, but in
an area other than fraud investigation)
can make the situation worse. Certified
public accountants and attorneys are
invaluable; however, unless they have
special investigation skills and have
direct access to examine the transactions
in your practice management software,
they most likely can't identify theft
patterns.
Certified fraud examiners (CFE)
are specialists in identifying evidence
of illicit financial transactions and
confronting the suspect. They also
know how to preserve and catalog the
evidence and, if needed, share how to
explain the transactional theft to your
insurance company, attorney or law
enforcement authorities.
An experienced CFE
can help you formulate
and properly execute
a fraud response plan
that will be crucial in
obtaining restitution and
protecting yourself from possible
future litigation.
One client consulted her CPA
and the computer software company
before finally consulting a CFE. After a

50

JANUARY/FEBRUARY 2018 // orthotown.com

$12,000 investment, the CPA's response
was, "We know money is missing,
but we don't know how." I was able
to identify specific theft transactions
and methodologies within two days
because of experience in orthodontic
accounting, specialized audit training
and the ability to think like a thief.

Finally: Don't panic.
Embezzlement is frightening, and can catapult you into
immeasurable consequences
that are out of your control.
When you're blinded by rage
and emotion, it's natural to want to
react rashly by confronting or firing
the suspect immediately. But if your
suspicions of embezzlement are not
well founded-and occasionally this
does happen!-you may have destroyed
working relationships, possibly exposed
yourself to litigation and compromised
your public professional reputation.
As difficult as it may be, remain
calm and act rational. Surround yourself
with a team of experienced experts
who can create a step-by-step fraud
response plan that is personalized for
your specific situation and who can
knowledgeably walk beside you during
its implementation.
Remember, there are others who
have traveled the same path and emerged
successful on the other side. ■



http://www.orthotown.com

Table of Contents for the Digital Edition of Orthotown January/February 2018

Orthotown January/February 2018 - Intro
Orthotown January/February 2018 - Cover1
Orthotown January/February 2018 - Cover2
Orthotown January/February 2018 - 1
Orthotown January/February 2018 - 2
Orthotown January/February 2018 - 3
Orthotown January/February 2018 - 4
Orthotown January/February 2018 - 5
Orthotown January/February 2018 - 6
Orthotown January/February 2018 - 7
Orthotown January/February 2018 - 8
Orthotown January/February 2018 - 9
Orthotown January/February 2018 - 10
Orthotown January/February 2018 - 11
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Orthotown January/February 2018 - 18
Orthotown January/February 2018 - 19
Orthotown January/February 2018 - 20
Orthotown January/February 2018 - 21
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Orthotown January/February 2018 - 30
Orthotown January/February 2018 - 31
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Orthotown January/February 2018 - 33
Orthotown January/February 2018 - 34
Orthotown January/February 2018 - 35
Orthotown January/February 2018 - 36
Orthotown January/February 2018 - 37
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Orthotown January/February 2018 - Cover3
Orthotown January/February 2018 - Cover4
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