How Is Money Audited Especially If Someone’s Balance Is Just Numbers In The Bank’s Computer?
It seems to me that the amount of money in a person’s bank account is just a bunch of numbers in a computer’s hard drive. Who actually checks and see if no one just puts
“extra numbers” in someone’s bank account?
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February 11th, 2010 at 9:19 pm
The “numbers” have to go together and make sense.
If someone just changed the balance in the computer, there would be a problem because the computer would be comparing changes in balance to transactions and a change in balance with no deposit, withdrawal, interest payment or other transaction would be flagged as an error. There are also control totals that are in the computer that the system maintains just for checking for this sort of thing.
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