What is the parol evidence rule?
The parol evidence rule will prohibit any party in a pending lawsuit from bringing forth evidence in a trial related to evidence made prior to the written contract or oral statements made contemporaneously with the written contract.
Below is an example of the parol evidence rule in action:
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What type of documentation should the audit team collect for the inventory cycle?
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What is lapping?
Lapping is a fraudulent accounting techniques that occurs when an employee alters the financial records to hide cash stolen from the company. Basically, the employee will take subsequent cash received and apply it to an accounts receivable to cover the theft. The employee must keep up this practice, otherwise the fraud will be discovered. As […]
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