What is the purpose of sending confirmations to vendors with small or zero balances?
Answer to relevant QuestionsWhat is a “blank” confirmation? Why is this format often used for accounts payable?What are the steps to account analysis for a prepaid or accrual account?How does the auditor come to an audit conclusion regarding presentation and disclosure for acquisition and payment activities and related accounts?A service provider has historically engaged a large CPA firm with significant experience in performing SAS 70 engagements to provide its Type II SAS 70 report. To reduce costs, in the current year it hires a small 2 person ...Apple’s Backdating Scandal: Backdating entails dating an employee stock option grant prior to the date the company actually granted the stock options. It was an action undertaken by some companies in an attempt to ...
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