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07-10-2022
Business

Answered

Heinz Koenig, a client of yours, has asked that you complete a confirmation of business earnings for his bank. The bank has requested the confirmation of earnings to make a decision about whether to make a loan to the business. You complete the confirmation of earnings but your client states that it is incorrect as it does not include the cash sales. Heinz tells you that he has taken $50,000 in cash sales “under the table” that do not appear in your accounting record. He wants you to include these hidden sales in the bank confirmation of earnings. In fact, Heinz has stated that if you don't change the confirmation of earnings to include the cash sales, he will change accountants.

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