Bishop Collins Accountants in Tuggerah, New South Wales, Australia | Consultation agency

Bishop Collins Accountants

Locality: Tuggerah, New South Wales, Australia

Phone: +61 2 4353 2333

Address: 1 Pioneer Ave 2259 Tuggerah, NSW, Australia

Website: http://www.bishopcollins.com.au

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• Financial service

25.01.2022 Financial Statement Fraud schemes are the least common in workplaces across the globe, but they are the most costly. Only 10% of cases are due to Financial Statement Fraud, but the median cost loss to the organisation is a staggering $954,000! Don't know what Financial statement Fraud is? Tomorrow we show you some examples.... Read our article on Fraud here: https://bit.ly/3i3mZGF And download our 7 best tips to avoid fraudulent activity in your organisation here: https://bit.ly/3coAEGQ See more

24.01.2022 Bishop Collins Chartered Accountants are located in the Tuggerah Business Park on the Central Coast NSW. We offer taxation and Business services advice, Audit and Assurance advice and Wealth Management advice. Now more than ever it is important to stay in contact with your accountant and ensure you are ready for what is to come.... Bishop Collins Accountants services many interstate organisations as well as organisations and individuals across NSW. If you are looking for an accountant or looking to change your accountant please contact us via our contact form by clicking the link below or call us directly on (02) 4353 2333. We look forward to meeting you. https://www.bishopcollins.com.au/engagement-model/

22.01.2022 Asset misappropriation schemes are the most common and least costly, with 86% of cases and a median loss of $100,000 (USD). (Source: ACFE 2020 Report to the Nations). It can be hard to manage the flow of cash through your business, especially when you have placed someone else in a position of control in this area, and you trust they are above board. Hopefully in most cases they are. However, from our experience you can be assured that: a) this is NOT always the case and b) y...ou will have no idea how much they have taken or how long it has been going on! As auditors we have the ability to look through your current systems of risk management and what processes you have already established and assess how efficient these are for your workplace. There are some very simple things you can ensure you are doing to avoid this happening to you. Read our article on occupational fraud to get more of an insight into how easy it is to have fraud go under the radar. https://bit.ly/3hEt77H And then download our PDF to have in your office as a reminder on the 7 best tips to help prevent fraud in your business. https://bit.ly/3c3a85V

22.01.2022 Of 125 countries surveyed on occupational fraud CFE’s estimate that organisations lose 5% of revenue to fraud each year. (Source: ACFE 2020 Report to the Nations). To put this in dollars for you our info graphic highlights, what this would look like if your organisation had a $1 million revenue. To avoid your organisation being attacked by occupational fraud you need to look for the warning signs: * Small businesses often feel immune to fraud, however they are equally affect...ed. * The most common red flags were employees living beyond their means: > Financial difficulties, > An unusually close association with a customer or vendor, > Excessive control issues (bookkeepers and financial controllers are often possessive of the books), > a recent divorce or family problems. We have written more on the ways you can detect and avoid occupational fraud in your business. Click the link below to read our article. https://bit.ly/33aukP8

21.01.2022 Check out this happy dude! Our David McClelland brought in his refurbished thunderbird today, just to show off I’m sure! But seriously, how cool is it though. #thunderbirds #accountantsandcars #showoff #awesome

21.01.2022 Our experience shows that even in the most secure of organisations, it is likely that some type of employee fraud may eventually occur. Quick detection is crucial to protecting an organisation from potential damage. The typical time between when a fraud begins and when it is detected is 14 months. Research also shows that the longer a fraud remains undetected, the greater the financial losses. See chart. To prevent fraud in your business you can read our blog on Occupation...al Fraud here: https://bit.ly/3hkLOx3 You can also download our 7 common sense hot tips to prevent fraud in your workplace, by clicking here: https://bit.ly/32dscXp

20.01.2022 We know that 86% of global occupational fraud cases are due to Asset Misappropriation, but do you know what this is? https://bit.ly/3mjHH8i From the graph in the image you can see how this can so easily affect small or large organisations. ... It’s a simple matter of becoming complacent and not being on top of what cash is coming in and out of the business, or not have the proper systems in place to monitor all the inventory that comes in and out of your organisation. You may have the right systems set up and you have just become complacent. An audit on your business will find these problems. Read our article on what types of fraud happen and how you can avoid them in your organisation. https://bit.ly/3mjHH8i

20.01.2022 We have created a quick download for you to help prevent fraud in your business. Completely free, and very handy to have as a quick checklist to make sure you are doing all the things YOU can do, before you need to use the services of an expert auditor. If you have any red flags in your business, please contact us on (02) 4353 2333.... Download your Hot Tips List Here: https://bit.ly/2ZibeFK See more

17.01.2022 This morning we hosted a networking event for Central Coast Business Owners in the Gold Class Lounge at Event Cinemas Tuggerah. We had 55 people attend from 40 different businesses on the Coast. Aubrey Brown Lawyers and @talkagency cohosted the event. ... We are so grateful to everyone who attended and the feedback is in, there will be more events similar to come soon. Thank you also to @danapichaloff1962 from @eventcinemastuggerah for all her help with the amazing venue! Aubrey Brown TALK agency Phillip Keenan Martin Le MarchantEvent Cinemas

14.01.2022 CORRUPTION! If you have been following our info graphics on fraud this month you already know that corruption is the most common fraud scheme in every global region studied! But, do you know where corruption lies, or what it is?... The graph attached gives you some idea of areas where corruption occurs in the workplace. It is important that we are all mindful of these types of activities to avoid any fraudulent behaviour in the organisation, which, as we have also seen, on average is quite costly! Read one of our occupational fraud articles by clicking below to find out if your organisation may be a high risk to fraudulent activity, right under your nose! https://bit.ly/35BVeSK

14.01.2022 Once you have read our article on Occupational Fraud, we know it is going to blow your mind, and you may be worried at how open you are to it happening to you. We wont let that happen. If you have any doubts about your businesses prevention systems or processes please contact us. ... We have also created this PDF for you to place in your office as a reminder of what to look for and be aware of. Our best advice is, don't put off having an expert check your systems and processes. If you wait and you are targeted, it may cost you a lot more than you think. https://bit.ly/2H5YpYL You can read our article by clicking here: https://bit.ly/3kjQzsQ

13.01.2022 Do you know the extent of fraud amongst businesses such as yours? A study of 2504 cases from 125 countries shows total losses to fraud of more than $3.6 billion (USD)(Source: ACFE 2020 Report to the Nations). Our experience in this area shows us that occupational fraud is much more prevalent than you would think in ANY SIZE BUSINESS. We have written a piece that uncovers what the best strategies are to avoid fraud in your business. Click the link below to read these strateg...ies. https://bit.ly/3i3Lap3 You can also download our 7 hot tips to prevent fraud in your workplace here: https://bit.ly/3icexW8

11.01.2022 Today is R U OK day. Grab a friend or a colleague who you think might need someone to talk to and "chew the fat" about everything and anything. Sometimes all you need to do is listen (throw in a sausage sizzle and the conversation will flow).

11.01.2022 Do you know the value of your business? Have you been thinking about selling your business? With so much going on in the world right now many business owners are considering all their options. One of these is selling your business? However, there is a lot know about selling your business. Do you have CGT or GST responsibilities? Do you now how to value your business? And is selling your business the right option? ... Bishop Collins Accountants are experts in this field and we encourage you to contact us if you are considering this. Click the link below to find out more about who we are and then contact us by completing one of the forms on our website or call us directly on (02) 4353 2333 https://www.bishopcollins.com.au/

11.01.2022 TAXATION AND BUSINESS SERVICES AT BISHOP COLLINS ACCOUNTANTS Do you own a business? Are you aware of the many ways an accountant can assist you? It's common to call upon an accountant when your annual compliance becomes a bigger job than you can manage. This is often where people think accounting services end. Our business services team can offer you the following services to assist you with achieving your version of success:... * Commercial Services * Compliance Services * Taxation Services * Bookkeeping (including migration to cloud accounting) * Outsourced CFO For more detail on what these services involve you can visit our website by clicking below. If you need our assistance or you are looking for an accountant you can contact us via the contact form on our website or call us directly on (02) 4353 2333

10.01.2022 This month we are doing a focus on fraud. In particular Occupational Fraud. Why are we doing a focus on fraud? Because we want to highlight to you how prevalent fraud is in ANY SIZE organisation. Often people think this type of thing only happens in large companies. ... In fact the occurrence of occupational fraud happens as frequently in small businesses (less than 100 people) as in large businesses (more than 100 employees). We are going to post a series of posts to highlight to you how common this is. If you feel your organisation may be at risk of fraud, or you actually think you have nothing to worry about, please call us on (02) 4353 2333. In the meantime you can read our article on fraud to give you some more clarity on how important it is to be on top of your internal controls and processes. https://bit.ly/2QN1TRG

09.01.2022 Cashing in on payroll fraud Payroll-related fraud schemes are twice as common in small business. Examples include employees: Requesting pay advances and not paying these back. Lying about hours worked on their time sheets and falsifying overtime. ... Getting co-workers to clock in for them even if they aren’t at work. A payroll audit might identify payroll-related fraud early. Download our PDF to have handy when you need to remind yourself of what to watch out for to prevent fraud in your workplace. These 7 hot tips may save you a lot of money. https://bit.ly/2E3hnOr

07.01.2022 OUR UNIQUE APPROACH Our Engagement Model is unique. Unlike many other accounting and advisory firms, we'll make a commitment to you. We aim to deliver our pre-engaged services for an agreed price within the agreed time frame. From our experience, we understand this is important to you. If you are considering changing your accountant or are looking for an audit and advisory team to assist you in improving your organisations efficiency and making sure your systems are effective, please contact us on (02) 4353 2333

05.01.2022 Financial Statement Fraud - What is it? Yesterday we told you that Financial Statement Fraud is the least common type of fraud in an organisation, but it costs the organisation the most when it does occur! Our chart below highlights some examples of what Financial Statement Fraud is. ... For more information read our monthly blog on Fraud in your organisation. You may be shocked at how common fraud is in every size business. https://bit.ly/3cvws8s We have also created a PDF for you to download with the 7 best tips to use to avoid fraud occurring in your company. https://bit.ly/3iYZxvs

05.01.2022 Thank goodness for the weekend! Hope everyone enjoys their weekend!

02.01.2022 Corruption is the most common fraud scheme in every global region (Source: ACFE 2020 Report to the Nations) Do you know if you're vulnerable to corruption in your business? https://bit.ly/2RlPJiT... We have already highlighted in previous posts this month that small business owners are by no means immune to this. Large corporations and companies as well as not for profit organisations are also at high risk of corruption in their workplace. https://bit.ly/2RlPJiT Read our article below to identify if you have any of the warning signs, or if you think you may not have the proper systems set up in your organisation. An audit on your workplace is the best way to detect any fraudulent activity. Which you may be shocked to find, but also relieved to have uncovered it. https://bit.ly/2RlPJiT

01.01.2022 From 2504 cases studied across 125 countries the median loss per case was $125,000 (USD) and the average loss per case was $1,509,000! (Source: ACFE 2020 Report to the Nations) https://bit.ly/35SpuZZ Sometimes the median and the average can be confused. What this means is of all the cases studied the middle number of loss was at $125,000 (USD). This is a huge sum of money for any business. ... The average of all cases combined is more than a staggering $1.5 million (USD). This should give you a good indication of how prevalent fraud is in any organisation. In most cases fraud can be detected. With the proper risk management strategies set up you can train your staff to also be aware of any red flags in your organisation. We have highlighted some areas where you can pay closer attention in your organisation. An audit on your organisation is the most effective way to not only identify, but also establish processes to avoid and manage your risks for the future. If after reading this article you feel you may have some areas of concern, please feel free to contact us on (02) 4353 2333 or via any of the contact forms on our website. https://bit.ly/35SpuZZ

01.01.2022 We are organising the second Tuggerah Business Park networking event. This event is not limited to businesses within the Tuggerah Business Park. Last year we held the event in the Tuggerah Business Park, and this year we are moving over to the Gold Class Lounge at Event Cinemas Tuggerah. Last year it was a great success. ... We, along with sponsors Aubrey Brown and TALK Digital Marketing Agency, will be providing breakfast for business owners who register and attend this event. This is a great opportunity to meet other business owners and develop connections or leads for your business. Our 3 speakers will give a very brief ten minute talk while you enjoy your breakfast. The topics have been chosen to help you right now in your business. Bishop Collins: Should I stay or Should I go? Have you been affected by the COVID-19 pandemic? What are the things you should be considering, about the future of your business? Aubrey Brown Lawyers: Protections for Directors of companies experiencing financial distress TALK: How to set your business up for digital success - four steps you can take today to assist you. So, you get a free breakfast, free marketing, free networking, as much free advice as you can absorb in one hour AND there will be prizes to give away! What are you waiting for? We are limited to 60 people only so register asap as our last event filled up fast. Register via event below:

01.01.2022 A typical fraud case causes a loss of $8300 (USD) p/month! (Source: ACFE 2020 Report to the Nations) If you're a small business reading this and you think you are too small to have fraud in your business, we cant stress enough how mistaken you are. Imagine if you were losing $8300 per month just because you didn’t have the right processes to detect fraud in your business. ... AND it's a simple process to find out if you are running efficiently! So, it’s even more crazy not to do it! If you think an audit on your business is only if you are in trouble, think again. The best way to detect broken processes and gaps in risk management strategies in your business is by having an internal audit. For more information on occupational fraud, and how common it really is click the link to read our article, which also gives you some tips on where to start looking for problems. https://bit.ly/2GEbRTw