MOST of my non-accounting friends and sometimes the members of my family and relatives, often tease me with the line "debit plus credit equals kupit (filching)." This was always a source of chuckles when I was in college up to my early years in the practice of the accounting profession. While obviously not reflective of proper accounting representation, the teasing use of the line also underlined a view that accountants can be fraudsters.
While I despise the impression, it reveals something about the prevalence of fraud in the Philippines. It's also a worldwide predicament and the weaker an entity's internal controls, the more vulnerable it is to the ever-changing and many facets of fraud.
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