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For food and beverage (or restaurant) entrepreneurs, the risk of loss arises not only from declining sales turnover and operating costs exceeding profits, but also from weak business oversight and controls, which can lead to internal fraud. Restaurants often experience high transaction volumes and fast-paced operations, making them vulnerable to fraud. Restaurant owners often only become aware of their fraud when discrepancies arise in audited financial statements.
Some forms/types of fraud in the restaurant business that I am aware of are:
Manipulation of void/discount data without proper procedures.
Inaccurate recording of raw food ingredients.
Please share your thoughts; there may be many other types of fraud in the restaurant business.
Some forms/types of fraud in the restaurant business that I am aware of are:
Manipulation of void/discount data without proper procedures.
Inaccurate recording of raw food ingredients.
Please share your thoughts; there may be many other types of fraud in the restaurant business.