Kiting

Meaning: 

Kiting is critical in financial audits and fraud detection, as it helps identify irregularities in financial transactions.

Understanding kiting is essential for maintaining the integrity of financial systems and preventing fraud.

How to understand Kiting:

Kiting is a misuse of banking processes and can lead to significant financial losses for banks and individuals.

It is important for auditors and financial professionals to recognize kiting as a red flag during examinations.

Uses in Finance:   

Kiting is relevant in bank fraud investigations, internal control systems, and as a warning sign in audits.