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Inflated payments or false cash payments are generally not supported with relevant support documents and proper authorizations. Like:
Cash payment of wages not supported with time sheet, payroll authorization from relevant authority / department head.
Duplicate payments: original documents are not attached as support
Cash theft: Misappropriation Of Cash
This is done in several ways, including:
· Theft of cash sales value.
· Theft collections customers.
· Proof of purchase invoices sham.
· Manipulation in wages and salaries.
· Rigging cash vouchers or petty cash.
The following is a brief explanation of the images of these misappropriations as follows:
- Theft of cash sales value:
The examiner discovers the theft through the following actions:
1. matching summaries prepared by sales workers summaries prepared by the Secretary of the Treasury.
2. The fear of having the possibility of collusion between the sale and Treasury Secretary workers, must keep records of the era held by each vendor where the value of the delivered goods to them to prove selling price and deducting the value of sales, and the rest is the value of the balance of the goods they already have, and if the actual inventory for those goods and found to be worth less than the balance apparent Testament records indicated that the deficit in goods, and this, of course, represents the amount of embezzlement.
some of the examples of inflating cash payments are'-
a) Cash purchases/expenses from unregistered dealers with debit vouchers.
b) Salary/wages payment to dummy employees
c) Make entries with bank payment and cash payment with same bill. One supported by original and other supported by duplicate.
d) Make entries in all branches/allied concern with same supporting.
Yes, inflating payments/showing false cash payment is a very common method adopted by employees to misappropriate cash. Some of the examples are
a. Show wages payment to dummy employees and take the cash
b. Salary paid to apprentice whose tenure has expired.
c. Make excess reimbursement claims and account it is paid and take the cash
d. Make duplicate payment entries for which entries has already made and take cash
Cash theft: Misappropriation Of Cash
This is done in several ways, including:
• theft of cash sales value.
• theft collections customers.
• proof of purchase invoices sham.
• manipulation of wages and salaries.
• falsifying cash disbursement or petty documents.
- Theft of cash sales value:
References examiner discovers this theft through the following actions:
1. matching summaries prepared by the sales staff summaries prepared by the Secretary of the Treasury.
2. The fear of having the possibility of collusion between the sales staff and the Treasury secretary, must keep records of the era held by each vendor where the value of the delivered goods to them to prove selling price and deducting the value of sales, and the rest is the value of the balance of the goods they already have, and if the actual inventory for those goods and found to be worth less than the balance apparent Testament records indicated that the deficit in goods, and this, of course, represents the amount of embezzlement.
- Theft collections customers:
This takes many pictures of the theft, including:
1. proof of the amount of money involved in the form of discount allowed:
This means that the amount paid by the client does not restrict the cash book and does not provide for the Company's treasury and it skims, and settled the debtor customer's account balance as if the customer is granted a deduction allowable amount of the balance, and discovers that the theft by checking for granting allowance conditions customers, and review the bills of sale, which includes a discount, and ensure the adoption of the discount allowed unrestricted books by specialists in the company.
2. demonstrate the amount of money involved in the form of non-existent debt:
This means that the amount paid by the client does not restrict the cash book and provides for the Company's treasury, but skims, and settled the debtor customer's account balance that may take our non-existent, and references the examiner can discover this by following the theft of the following:
- Ensure that all debts that have executed and were excluded from the clients' accounts have been adopted by the competent authorities.
- Check the safety and legality of such debts are written off.
3. proof of the amount of money involved in the form of sham sales returns:
This means that the amount paid by the customer to Aiqid in cash book and Ajord to the Company's treasury, but skims and settled debtor customer's account balance that has made him cold goods to the unit, and can References examiner discovery of this theft by following the following:
A check payable notices released by the facility and send it to customers with what is restricted daily returns of the sales ledger.
(B) audit notices some creditors with what is restricted records and records of incoming goods stores to make sure the goods are received and actually counter-entry into the possession of the unit
4. The use of segmentation payments to settle misappropriated customer collections:
Resort defaulter to repay the outstanding balance on a customer who had been embezzling Tsudaidathm through the use of amounts collected from other clients, this process continues repeatedly references the examiner can discover this by following the theft as follows:
A. Assuming that all cash receipts or bank checks are deposited, the examiner reviewing customer repayments on bank deposits also are featured in the bank statement, making sure to match the dates and amounts outstanding customer funds deposited with the bank.
(B) examine the accounts receivable and payable balances Note late and changes in the method of payment.
(C) send confirmations to customers' balances of their accounts with the unit and request that they send their consent or not to consent to directly checker.
- Proof of purchase invoices sham:
While collusion between the company's employees and between a supplier happens, cash theft in this case is by proof of purchase invoices sham or amounts more than the value of the goods received from them, or under purchase invoices twice and follows previous operations resource account the emergence of the highest of the truth and when the payment account skims The difference, and this can be detected embezzlement through the following actions:
(A) ensure the adoption of the purchase of the employee.
(B) access to the purchase invoice matching and reportedly by including under the cash book of purchases under the cash box.
(C) ensure the receipt of the goods purchased and that familiarized themselves with the records book stores and goods received.
(D) must be based examiner considering some purchases invoices with purchase orders and contracts, and whether the purchases are in one way or the tender bid, he should inform the tender files or bids.
- The manipulation of wages:
This is done by inserting Mozvien fictitious names in the payroll or by using a higher wage categories of truth and the corresponding amounts theft, embezzlement and discover this through the following actions:
A matching procedure between attendance cards (always) or payroll record working hours and between what is contained payroll various benefits.
(B) matching checks drawn wage with a total payroll and payroll.
(C) checking some workers files to make sure the validity of the appointment procedures and various bonuses and deductions.
(D) make sure there is worker signature or seal on the payroll and payroll.
- Falsifying cash disbursement or petty documents:
The examiner can detect embezzlement related to this item by checking exchange documents with what is restricted book of incidental expenses after examining the documents themselves, and validating form and subject.
For some small incidental expenses that do not exist in favor of her documents, the examiner must obtain accreditation to them by the competent authority and the examiner before all this inventory the remaining balance of imprest and matching balance with vouchers and the origin of the advance and the work of the outcome of the inventory record.
I personally like that Question as most of us don't know for Physical the critical of making accurate cash flow , however for the answer Is (( Make Sandwich )) I mean to make you cash follow and attached with it all the official reports for your figures , then we can reach up for accurate and ideal cash flow.
Agree with All of you.
inflation in payments is the increase in payments over the natural limit
example of this is theft of cash or make double payment for something
I agree with everyone
