MHC&S employs a team of outstanding professionals including CPA’s, accountants, and consultants. Our mix of professional staff tends to have a higher percentage of partners, managers and other senior personnel than many other firms.
Whether you're an accounting student hunting for a great career or an experienced professional looking for a change, MHC&S provides a fast-paced, high-profile work environment where you can realize your true potential.
McGowen, Hurst, Clark & Smith is recognized as a leader in several primary industry areas – Trucking, Real Estate, Construction, Health Care, Hospitality, Individuals, Manufacturing and Distribution, Technology, and Employee Benefits. .
At MHC&S we provide various complimentary newsletters with information keeping you up-to-date on current issues, topics of importance and regulations that financially impact you as an individual, as well as your business or organization.
Your employees can report concerns safely, securely, and anonymously 24/7.
Red Flag Reporting is your hotline for:
fraudulent activity / theft
Protect your organization and employees.
Why does a reporting hotline make sense for me?
43% of frauds are found by someone speaking up. Speaking up is the #1 way fraud is detected. In fact, the second-most common detection method accounts for only 15% of detected frauds. The hotline facilitates and encourages such communication. Becasue it allows anonymity, it empowers those who may otherwise be too intimidated to speak up.
The #1 way fraud is prevented is by establishing a strong and positive tone at the top. The hotline is a visible and frequent reminder of this positive tone. It is presented as working together for the common good.
The average occurrence of fraud at an organization with a hotline is $100,000 and without a hotline is $180,000. Just one time of catching fraud early, and reducing the damages, potentially covers the cost of the hotline for decades... And that's not to mention what it prevents.
Beyond any financial loss, fraud losses are otherwise painful. They lower company morale, damage reputations and distract people from more productive work.
Employment Practices Considerations
Employment-related claims are on the rise. It is estimated that three out of every five companies will be sued by an employee for a matter that occurred sometime between the pre-hiring process through the exit interview. The average court settlement for an employee-related claim is $40,000. The average verdict in an employee-related case is $140,000.
Having a hotline in place allows for employers to address a situation early rather than letting it continue and end in the courts. A hotline also eliminates the employee excuse that they had nowhere to turn.
Why does Red Flag Reporting make sense for me?
Besides providing you with a mechanism that supports the #1 way fraud is detected (employee tips), and the #1 way fraud is prevented (a strong tone at the top), Red Flag Reporting provides:
a nationwide toll-free number staffed by live operators 24/7/365.
a web reporting portal available 24/7/365.
web-based ability to report in both English and Spanish (covers substantially all United States, Mexican, and Canadian residents).
call-based ability to report in 200+ languages.
posters to be hung at key locations within your entity.
wallet cards for all employees.
quarterly emails to all employees to encourage familiarity with the hotline.
quarterly newsletter to management regarding financial ethics and risks.
one hour live fraud awareness seminar for your employees.
pre-recorded fraud awareness webinar for your future use.
professional report assessment.
peace of mind!
Why is Red Flag Reporting a compelling provider?
Most providers do not provide employee training as part of the set-up fee. We provide live, onsite training from an experienced fraud examiner. A webinar is available for those unable to attend the onsite training.
Our hotline allows web reporting and live, 24/7 phone reporting via a toll-free number. We also offer collateral material that helps keep the hotline top of mind, including wallet cards, posters, and quarterly emails.
Unlike most hotlines, our reports do not go straight from the operator to the client. Our reports first go to an experienced fraud examiner who provides a preliminary assessment of the matter when it is presented to your organization.
Employment Practices Considerations
By putting this hotline in place, you will convey to your employees that your organization is committed to their safety and well-being. As an employer, you will have comfort in the fact that the hotline provides you with a safeguard that may identify employee concerns or complaints before they develop into a litigious situation.
Employees can report critical issues such as safety violations, threats, harassment, substance abuse and discrimination.