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jaybobz


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Probably a fraudulent transaction?
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Hi

My employer pays a large amount of his own money into the company's bank account right at the end of the financial year, then transfers it back out again at the start of the new year.

He does this to make the year end cash position appear better than it really is. The auditors know about it but don't say anything.

Presumably this transfer is fraud/illegal?

Any wise person out there like to comment?



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abacus12345


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Ok, so the Dr goes to bank, where does the Cr go? Auditors as in external?

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Cheshire


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INTRO?????????????!!!!!!!!!!!!!!!

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 Joanne 

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Cheshire


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Probably not actually auditors. If you are THAT concerned then you must report it.



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
abacus12345


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I'm on my phone so I wasn't sure if a newb or not. Whatever we say will be circumstantial really. If in doubt, as already said, whistle blow.

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Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 
Cheshire


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Wish the bloody phones had the same functionalityas the desktop etc!   Not much we can add with only half a story anyway.



-- Edited by Cheshire on Thursday 16th of February 2017 06:36:03 PM

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
abacus12345


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Maybe he is trying to unsuccessfully bed and breakfast (sure that's what it's called) to try and unsuccessfully escape s455 interest. Seriously could be many, many things.

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Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 
jaybobz


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The credit entry goes to sundry creditors.

 

Yes the auditors are external. The company isn't subject to a full audit as the turnover is £3m. They do know exactly what the transaction is.

What other information do you need?

 



-- Edited by jaybobz on Thursday 16th of February 2017 10:18:12 PM



-- Edited by jaybobz on Thursday 16th of February 2017 10:21:33 PM

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Cheshire


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if they are actual auditors, conducting an audit and  they know all about it and haven't raised an issue with it, why are we wasting time on this?

Of course  t/o does not meet the criteria for such,so is it an audit? Will they spot it dumped to sundry creditors?

If you have an issue with it, raise it with them or report it And let the authorities decide.

(Of course anyone analysing the accounts would not just be looking at the cash balance)



-- Edited by Cheshire on Friday 17th of February 2017 08:27:10 AM

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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