Auditors ordinarily send a standard confirmation request to, Ask an Expert

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Auditors ordinarily send a standard confirmation request to all banks with which the client has done business during the year under audit, regardless of the year-end balances. A purpose of this procedure is to:

A. provide the data necessary to prepare a proof of cash.

B. request that a cutoff bank statement and related checks be sent to the audit.

C. detect kiting activities that may otherwise not be discovered.

D. seek information about contingent liabilities and security agreements.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M969681

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