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On may 5, 2009 our business opened an account on a certain bank, and the manager of the business is one of the signatories. the business discovered that five (5) checks has been encashed by a certain person lets just name her kc since 2010 in the total amount of P200,000 in diff. dates and amounts. it turned out that kc with account at that certain bank was a fictitious name used by a certain person lets just name her Ashley who worked as an external editor. She admitted to have forged the signature of the manager and encashed the checks. My questions are 1. What is the liability of the forger to the checks? 2. is the bank liable also? 3. May the manager be held liable for the checks also? 4. What is the effect of forgery? 5. May the accounting and auditing firm be held liable also? And what sec. is this related to? Please I need a response as soon as possible... salamat po ..kailangan ko po talaga ng kasagutan 
