Category: External Confirmation (ISA-505)
You are the audit manager in a firm of chartered accountants and are currently faced with the following situations at two different clients. (i) A bank confirmation has not been …
Negative External Confirmation Discuss when it is appropriate to use the negative external confirmation procedure for the purpose of external Confirmation. Certain conditions are required to be met before an …
Auditorforum has already discussed external confirmation and its procedures, now we will understand its practical implication through a case study. A real life scenario is described with solution to understand …
Auditorforun has alredy discussed external confirmation its design and process. In this article audit procedures for external confimation will be discussed which will help in enhancing the uderstanding of the …
External Confirmation: Confirmation of an amount or other information shown in the client’s records by an independent third party provides a reliable evidence of the existence of the amount and correctness …