Fraud by kiting Describe the concept of kiting and identify the best method for the auditor to use to detect kiting
Kiting involves the transfer of cash from one bank account owned by the client to another account owned by the client for the purpose of fraudulently overstating the cash accounts. The overstatement is generated by recording the deposit at the end of the year but failing to record the disbursement from the other account at that time. The most effective and efficient method of uncovering kiting is the preparation of a bank transfer schedule by the auditor.
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