Bank Confirmation Process
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 vs Positive External Confirmation
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 …
External Confirmation Practical Case study
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 …
Audit Procedures for External Confirmation
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
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 …