Companies that are reluctant to extend credit due to a limited appetite for risk are likely evaluating the problem without considering the factors in their favor. The protections against nonpayment available to parties in the construction industry make the decision to pursue business with traditionally “risky” parties much easier.
Five Ways to Combat Employee Theft in the Construction Industry
All businesses are susceptible to employee theft even with background checks and other means of ensuring a quality workforce. Most employees who steal are first-time offenders with a clean employment history. Talk to an insurance broker to be sure there is proper coverage and prevention mechanisms to minimize risk in the construction business.
Financial Statement Red Flags to Detect Internal Theft: Construction Contractors Can Minimize Financial Damage by Recognizing Fraud
Financial statement fraud is a real threat to businesses large and small across all industries. The first line of defense against these criminal activities is the implementation of systems, policies and controls intended to safeguard an organization and deter fraud or stop it in its tracks at the first sign of detection.
Construction Site Security: Protect Employees, the Public, Property, Assets and the Bottom Line
A construction site is full of hazards to employees and the general public. An unsecured site is an invitation to theft of material and equipment. Contractors with a site security program in place will see a dramatic reduction in vandalism, theft of materials and property, damage to property and potential liability exposure due to injuries to trespassers.
A Potential Gap in Indemnity Coverage
Commercial contracts in the construction industry generally contain indemnity provisions in which one party (the indemnitor) agrees to assume the liability of the other party.
Financial Statement Red Flags to Detect Internal Theft: Construction Contractors Can Minimize Financial Damage by Recognizing Fraud
The first line of defense against financial statement fraud is the implementation of systems, policies and controls intended to safeguard an organization and deter fraud, or stop it in its tracks at the first sign of detection.
It’s Time to Talk About Occupational Fraud
Safeguarding assets from fraud is an important objective for every company. It will take an all-hands-on-deck approach to be successful, and it starts at the top.
Internal Controls Prevent Construction Losses
Internal controls stem from the idea that no one individual should have complete control over a given transaction process and that there should be proper segregation of duties among individuals involved in every process. By spreading responsibilities among...










