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Only one in 20 small businesses has accurate financial statements.

That makes up only five percent of businesses. Almost half of all small businesses experience some kind of accounting theft at their company, which costs them an average of about $114,000 per occurrence.

The Association of Certified Fraud Examiners puts out a report annually that is a giant eye-opener for how much fraud and theft is out there. The numbers are staggering–and it’s was one of the factors that led CEO Matt Garret to found TGG Accounting. Small business accounting can help mitigate these threats.

In an interview with Stay Wealthy San Diego, Garrett shares the story behind TGG and how it’s turning traditional accounting on its head.