Refer to the Standards Appendix at the end of this text. Identify the relevant auditing standards (PCAOB, AICPA, and IAASB) relating to external confirmations. Locate the standards on each organization's web site.
a. What generalizations are applicable to audit evidence with respect to confirmations?
b. What do the standards direct the auditor to do if management refuses to allow the auditor to send a confirmation request?
c. Comment on similarities or substantive differences between the standards for each standard-setting body.