Do you believe that the E&Y auditors should have used confirmations in auditing CBIs year-end accounts payable?

Question:

Do you believe that the E&Y auditors should have used confirmations in auditing CBI’s year-end Defend your answer. Briefly explain the differing audit objectives related to and confirmation procedures and the key differences in how these procedures are applied.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...