Question: List the information an auditor should ask for in a
List the information an auditor should ask for in a standard bank confirmation sent to an auditee’s bank.
Answer to relevant QuestionsDistinguish between positive and negative confirmations. Under what conditions would you expect each type of confirmation to be appropriate?In the Audit 11.2 case, what information might have been obtained from each of the following: enquiries, detail test of controls procedures, observations, and confirmations?What are some of the justifications for not using confirmations of accounts receivable on a particular audit?During the audit of the December 31, 20X5, financial statements, the auditor identifies cash amounts received subsequent to December 31, 20X5, and traces these amounts to the cash account in the general ledger and to the ...The ABC Appliance Company, a manufacturer of small electrical appliances, deals exclusively with 20 distributors situated throughout the country. At December 31 (the balance sheet date), receivables from these distributors ...
Post your question