Sullivan & Company Merges Into BlumShapiro: BlumShapiro now ranks among Top 50 accounting firms in the nation

PROVIDENCE, RI – Tuesday, January 8, 2013 - Sullivan & Company, located in Providence and one of the largest and best-known accounting names in Rhode Island has merged into BlumShapiro, the largest regional accounting, tax and business consulting firm based in New England, greatly expanding and strengthening its position as the leading regional firm. This merger became official on January 1, 2013 and makes BlumShapiro one of the Top 50 accounting firms in the nation, with 340 employees throughout New England.  Read More »
Certified Public Accountants and Business Advisors

Fraud Protection & Detection 

Fraud In Your Workplace

Business owners should pay close attention to extreme challenges faced by employees that may cause instability in life circumstances. A spouse out of work or signs of financial pressures from mortgage payments or credit card debt may be enough to motivate a stressed employee to do the wrong thing. Not surprisingly, cash is often a fraudster's most attractive target. Organizations are most susceptible at points where cash comes into or leaves the business. Sometimes, blind trust by the owner or supervisor which is, ultimately, no substitute for good controls and vigilant management oversight.

Businesses are faced with tough choices to remain competitive. Downsizing, for instance, may lead to employees performing incompatible duties with lack of separation of critical functions. The burden of an increased workload and the uncertainty of continued employment may create an environment where employees feel justified taking funds or goods from their employer. While greed has been the prime motivator of fraudsters in the past, today's fraudster is often motivated by personal hardship.

Our professionals are trained to look beyond the numbers and deal with the business reality of the situation, integrating accounting, auditing and investigative skills. We are frequently retained to analyze, interpret, summarize and present complex financial and business-related issues. We step in to assist in investigative matters often involving criminal wrong-doing such as falsification of financial statements, identity theft, insurance fraud, and employee theft.

In fact, our firm spearheaded the forensic audit that identified the sources involved in the largest private embezzlement in Massachusetts history.

We also help in matters of litigation support providing actual presentation of economic issues related to existing or pending litigation and quantification of economic damages. For more information, contact David Fontes at DFontes@Sullivancpa.com or  via phone at 401-272-5600.