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According to your textbook, to minimize the risk of material misstatement, auditors seek third- party verification of account balances by mailing customers their statements. Discuss
According to your textbook, to minimize the risk of material misstatement, auditors seek third- party verification of account balances by mailing customers their statements. Discuss the advantages of positive and negative confirmations, and ascertain whether or not email and oral confirmations are acceptable to increase customer response rates.
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