Zanesville, OH -- (SBWIRE) -- 08/25/2017 -- Rea & Associates, a trusted CPA firm based in Zanesville, recently made an announcement concerning its expanded red flag reporting services. Rea announced that fraud is a major problem for businesses in the U.S., affecting both business owners and employees alike. Rea stated that the ramifications of fraud can include employees having to forgo paychecks because of embezzled funds, as well as the stress of working with dishonest colleagues.
Rea went on to state that organizations with some sort of fraud detection hotline in place have much more success reporting fraud than organizations without such hotlines. Rea cited a recent study which found that companies with a fraud reporting hotline in place had a 47.3% chance of fraud detection, while companies without such measures in place only had a 28.2% chance of fraud detection. The company stated that its red flag reporting acts as such a hotline. Rea stated that fraud detection is essential for the success and wellbeing of any business.
Rea & Associates stated that, while many people envision corporate fraud as involving huge corporations that are embroiled in scandals, the truth is that fraud can happen with small businesses as well. Rea went on to state, that in fact, small businesses can be more prone to cases of fraud, because there is a level of informality and trust among employees of a small business that is largely absent in huge corporations. Rea stated that fraud hotlines are important for all types of businesses, large and small.
Rea went on to state that a successful fraud hotline will not only serve as a way for employees to report fraud; it will eventually serve as a deterrent, so that the risk of fraud within a given company can be lowered to almost zero. Rea stated that its goal in expanding its red flag reporting services is to see fraud reduced across the board. Rea stated that a company without fraud is a happier, healthier, more profitable company.
Further details can be found at https://plus.google.com/108783142215253816149.
The company was founded in 1933, in the wake of the Great Depression--a time when fraud and mismanagement was rampant across the country. Rea stated that its goal during this time was to provide sound, innovative financial advice that would help businesses succeed in this troubled time. The company stated that its goal remains unchanged.
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Rea concluded by stating that it provides a variety of financial planning and business consulting services throughout Ohio.
They can be followed at http://ebusinesspages.com/Rea-and-Associates-CPA-Firm_dpwiz.co.
Company: Rea & Associates
Address: 905 Zane Street, 2nd Floor, Zanesville, OH 43701