Money

DE's Business Lab: Why didn't my accountant find embezzlement?

Jan. 25, 2022

Dentists are encouraged to take financial matters into their own hands. But shouldn't our accountants be able to figure out if we're being embezzled?

Pamela Maragliano-Muniz, DMD

I tackled my latest question about embezzlement head on. Should my accountant be able to figure out if I'm being embezzled? David Harris, CEO of Prosperident, the embezzlement experts, says it's harder for accountants to do than we realize.

In all industries, accountants uncover only 40% of embezzlement. When that's narrowed to just dentistry, it goes down to 6%. So while accountants have a very valuable function in your practice, uncovering embezzlement may not be one of them. You need to keep watch over your own financials. I know I will!

To watch more informative videos on today's topics with industry experts, visit dentaleconomics.com/videos or dentistryiq.com/videos.

About the Author

Pamela Maragliano-Muniz, DMD | Chief Editor

Pamela Maragliano-Muniz, DMD, is the chief editor of Dental Economics. Based in Salem, Massachusetts, Dr. Maragliano-Muniz began her clinical career as a dental hygienist. She went on to attend Tufts University School of Dental Medicine, where she earned her doctorate in dental medicine. She then attended the University of California, Los Angeles, School of Dental Medicine, where she became board-certified in prosthodontics. Dr. Maragliano-Muniz owns a private practice, Salem Dental Arts, and lectures on a variety of clinical topics. You may contact her at [email protected].