QS 6-7 Reviewing bank statements P3 An entrepreneur commented that a bank reconciliation may not be necessary as she regularly reviews her online bank statement for any unusual items and errors. a. Describe how a bank reconciliation and an online review (or reading) of the bank statement are not equivalent b. Identify and explain at least two frauds or errors that would be uncovered through a bank reconcilia tion and that would not be uncovered through an online review of the bank statement