1 Research relevant auditing standards to determine whether confirmations are ever required to be used in a financial statement audit. If so, under what circumstances? Format Font Size BIU 2 In the audit of Parmalat, the confirmation letter was forged by Parmalat management before it was returned to Grant Thornton. Describe some precautions auditors should consider when using confirmations in order to reduce the risk of relying on fraudulent confirmations. What do auditing standards suggest regarding precautions that should be taken? Format Font Size