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Suppose you are the CEO of a company and one of your manager confessed to kiting...

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Accounting

Suppose you are the CEO of a company and one of your managerconfessed to kiting $1,000. What is kiting? How do your company doto prevent it? How would you respond to the confession?

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In a kiting scheme cash is created using the lag between the time a check is deposited and the time it clears the bank For example a fraud perpetrator opens accounts in banks X Y and Z The perpetrator creates cash by depositing a 500 check from bank Y in bank Z and    See Answer
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