Define need and importance for Bank Reconciliation statement

The bank reconciliation statement is needed and also important because of the following - The bank reconciliation will bring out only errors that may have been committed either in the cash book or in the pass book - Any undue delay in the clearance of cheques will be shown up by the reconciliation - A regular reconciliation discourages the staff of the customer or even that of the bank form embezzlement. There have been many cases when the cashiers merely made entries in the cash in the bank they were able to get away with it only because of lack of reconciliation - Reconciliation helps the management check the accuracy of entries made in the cash book and keeps track of cheques