The Fading role of bank reconciliation in fraud prevention and detection
| dc.contributor.author | Mathuva, David Mutua | |
| dc.date.accessioned | 2017-11-09T09:14:28Z | |
| dc.date.available | 2017-11-09T09:14:28Z | |
| dc.date.issued | 2016-04 | |
| dc.description.abstract | Bank reconciliation statements have traditionally served as an important control tool in detecting anomalies either in the cash book and or the bank statements. Whereas there may exist a number of anomalies in the cash book maintained by the company, there are usually few (or no) anomalies in the bank statement. In my experience with a number of corporate frauds, bank reconciliations have in most cases been least useful in tracking where fraudulent activity could have started. I have encountered companies that have had to do with “cooked” bank reconciliation statements for over two years, that is, 24 months! This period is enough to defraud the company a significant amount of money without anyone noticing. | en_US |
| dc.description.sponsorship | Article published in the ICPAK Accountant Journal March/April issue 2016 | en_US |
| dc.identifier.uri | http://hdl.handle.net/11071/5557 | |
| dc.publisher | ICPAK | en_US |
| dc.title | The Fading role of bank reconciliation in fraud prevention and detection | en_US |
| dc.type | Article | en_US |