Although the conclusions in your editorial about embezzlement are generally sound, you neglected to mention the value of outside accountants periodically surveying the accounting procedures of a business. This is in addition to sending out the annual figures to someone to prepare a tax return.
A relationship with a good, certified public accountant is an excellent investment for even the most cash-strapped business.
On a practical level, the business owner doing his or her own bookkeeping very often is financially inefficient at best or an unmitigated accounting disaster at worst.
Charles Veeder
Orono
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