#AUDITDATALEADERS
Have you seen the cookie jar... it's somewhere in these suspense accounts
I just know that there is a fund here somewhere that shouldn’t be
What you mean like a “Cookie jar”-what is that anyway?
It’s kinda like -this year you do good, right, but you aren’t sure what’s going to happen next year. So what we are going to do, is put some Loss in this period, by debiting the loss account and crediting a suspense account. Then next year, if our profits aren’t so great, we can debit that suspense account and credit profit, and hey presto our revenues are looking more consistent!
Isn’t that kinda illegal?
Of course, it is: just take the fines that Microsoft, WorldCom, Fannie Mae Bristol-Myers Squibb got from the SEC
Wow ok, would be great if we could find some then
Yeah, it just kinda difficult, because there are 20 million journals entries and hundreds of suspense accounts, so you gotta get lucky
Why don’t you use some data analytics to do it?
Yeah but we’ve only got one week to get this done and I don’t have any IT background
Why not use Audit Zoom, its easy, come on I’ll show you
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