Question: Refer to the Auditing Standards Appendix inside the front cover of textbook. Determine the relevant International Standard on Auditing (ISA) for external confirmations and locate

Refer to the Auditing Standards Appendix inside the front cover of textbook. Determine the relevant International Standard on Auditing (ISA) for external confirmations and locate the standard on the IAASBs website.

(a) What is the number of the standard?

(b) Define the following key terms noted in the standard:

- Exception

- External confirmation

- Negative confirmation request

- Nonresponse

- Positive confirmation request

(c) What does the standard advise the auditor to do if management refuses to allow the auditor to perform external confirmation procedures?

(d) What does the standard advise the auditor to do if the auditor identifies factors that give rise to doubts about the reliability of the response to a confirmation request? What factors could cause such doubt?

(e) What does that standard advise the auditor to do if a confirmation request is not reliable?

(f) What factors does the standard urge auditors to consider when designing confirmation requests?

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