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AUDITING: " LAPPING & KITTING
- https://paandpaf.blogspot.com/2011/07/lapping-kitting.html
- Commonly known fraud in an audit in the form of LAPPING and KITTING. Know the difference between the lapping and kitting, to the two it is a form of cheating are often found on examination of auditors' client cash balances. Actually, not only like that, SKIMMING. Is a form of cheating before heading bookkeeping made.
Kiting Definition - Investopedia
- https://www.investopedia.com/terms/k/kited.asp
- May 07, 2019 · Kiting is the fraudulent use of a financial instrument such as a check to obtain additional credit that is not authorized. There are two variants of kiting:
Lapping Scheme Definition
- https://www.investopedia.com/terms/l/lappingscheme.asp
- Feb 03, 2020 · A lapping scheme is a fraudulent practice that involves altering accounts receivables to hide stolen cash. The method involves taking a subsequent receivables payment from a transaction (for...
My Accounting Blog: Kiting/ Lapping
- https://myaccountingblog-me.blogspot.com/2010/04/kiting-lapping.html
- Kiting/ Lapping CASH, is the most liquid asset and has the highest risk of being misstated. Kiting and lapping are typical examples of stealing money/ embezzlement. For the purpose of CPA exam, you can understand Kiting/ lapping as methods of hiding/misstating the Company's actual Cash position.
Lapping fraud — AccountingTools
- https://www.accountingtools.com/articles/what-is-lapping-fraud.html
- Lapping occurs when an employee alters accounts receivable records in order to hide the theft of cash. This is done by diverting a payment from one customer, and then hiding the theft by diverting cash from another customer to offset the receivable from the first customer.
Check kiting definition — AccountingTools
- https://www.accountingtools.com/articles/check-kiting.html
- Someone engaged in kiting has a detailed knowledge of how long it takes for checks to clear the bank, and will take advantage of the timing delay to withdraw cash (even partial amounts) just before the bank discovers that there is a problem.
CPA Audit - Cash Flashcards Quizlet
- https://quizlet.com/6088102/cpa-audit-cash-flash-cards/
- Lapping occurs when cash is stolen upon receipt from one customer's account. Later, the cash that is received from a second account is applied to the first account to cover up the original theft. Either a certain amount of money has been taken, or this amount …
What Is Cash Kiting? Sapling
- https://www.sapling.com/8206739/cash-kiting
- Mar 28, 2017 · Cash kiting is the act of taking advantage of bank floats in order to commit fraud. A fraudster uses two bank accounts in separate banks: bank account A and bank account B. These bank accounts may or may not be his own. He then writes a check from account A that is more than the available balance in that account.
PENGERTIAN LAPPING DAN KITING DALAM AUDIT Belajar ...
- http://www.belajarakuntansionline.com/pengertian-lapping-dan-kiting-dalam-audit/
- Lapping adalah suatu jenis penggelapan yang dilakukan dengan cara penundaan pembukuan atas penagihan rekening tagihan untuk menyembunyikan adanya kekurangan uang tunai. Auditor dapat mengungkapkan jenis penggelapan ini dengan cara membandingkan nama, jumlah, dan tanggal yang tercantum dalam tembusan advice penyetoran dengan transaksi penerimaan ...
Check kiting - Wikipedia
- https://en.wikipedia.org/wiki/Check_kiting
- Check kiting or cheque kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account.In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit.. Kiting is commonly defined as intentionally writing a check for a value greater than the account balance from an ...
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