Fraud Term?

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
Can anyone tell me if there is a 'term' for the practice of adding a few pennies to many accounts. So, that over time the amount builds up to a significant amount.

Thanks in advance

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Fraud Term?

    What exactly do you mean? Billing people for an extra penny? Adding an extra penny onto VAT or what?

    The "odd penny" could be termed as rounding up :lol:

    Claudia
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Fraud Term?

    Answered on other forum.

    Scott.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Fraud Term?

    Thanks Claudia,

    Not rounding. Definitely fraud. It's been a while since I did auditing, and thought there was a term, but probably isn't. I'd ask in the ACCA forum, but I'd be better off asking an anonymous person in the street.

    Off topic, at least that woeful joke of a forum ACCACommunities will be gone soon.

    Sorry for the Rant, cheers!
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Fraud Term?

    Hi, could the term you mean be "earnings management"? This is when the directors of a company manipulate the accounts slightly year on year in order to keep up with expectations.

    Just a thought.

    Kate

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