A lapping the scam is a dishonest technique in which a worker modifies accounts receivable in order to conceal stolen money. The technique involves utilising a subsequent receivables payment from a deal (like a sale) to pay for the theft.
The auditor has a duty to "plan and carry out the audit to the acquire reasonable certainty regarding. According to the auditing standards. Accounts receivable confirmations can demonstrate a number of claims, including the receivables transactions' real existence. For instance, the auditor might ask a client to attest that they have a balance on their account with the company under audit.
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