Distinguish between lapping and kiting. Describe audit procedures that can be used to uncover each.
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Lapping is a defalcation in which a cash shortage is concealed by delaying the crediting of cash receipts to the proper accounts receivable The first step in the fraud is to withhold cash remitted by ...View the full answer
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Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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