Download or read book The Identification and Prevention of Employee Theft in Small Business written by Norman W. Good and published by . This book was released on 2010 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employee theft, which can be fatal, is a major issue for all businesses. The United States Department of Commerce estimates that 30% of all business failures are a result of employee theft, and previous researchers discovered employee theft disproportionately affects small businesses, which blame their lack of resources as the reason. The Association of Certified Fraud Examiners (ACFE) is considered the leading authority on occupational fraud. It conducts a semi-annual study which supports the theory that small businesses are disproportionately affected by employee theft. However, this group's methodology may be suspect because it collects its data from certified fraud examiners rather than directly from small businesses. The current study explored the ACFE's collection weakness by gathering information directly from small businesses. This research project will present and review previous literature and studies regarding employee theft. The previous literature was used to formulate best practice strategies to prevent and identify employee theft in the workplace, and a 25-question survey was compiled from the best practice strategies. The Ulster Regional Chamber of Commerce partnered with this research project and presented the survey to businesses. The survey confirmed small businesses do not employ as many anti-fraud strategies as their larger counterparts, but the lack of resources appears to be only one reason for the discrepancy. Perhaps equally important is that small businesses do not perceive employee theft as business threats. This study supports the need to educate small businesses about the dangers of employee theft and how to prevent and identify it when it occurs.