A client who owns a Shs 350m($106,000) poultry firm hired a colleague's accounting firm to do some accounting work. As it turns out when they started preparing his accounts, they noted that for example whereas the books showed sales had been Shs. 4m the analysis showed they were infact closer to 32m!
They eventually had to make amendments to their original records as they had in some cases not recorded transactions worth at least Shs. 25m.
How could this happen?
The main problem is that the cli...
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