I need help with this cases Simply soups INC, I just attach the case study

Simply Soups Inc.: A Teaching Case Designed to Integrate the Electronic Cash Confirmation Process into the Auditing Curriculum ABSTRACT: Simply Soups Inc., a producer of organic canned soups, has hired your firm, Putnam and Jacobs LLP, to perform a financial statement audit for the year ended December 31, 2013. Using the PCAOB's proposed standard on confirmations and electronic confirmations, you are to complete the testing of the cash balance reported by Simply Soups Inc. at year-end. Today, a majority of large banks require auditors to use electronic cash confirmation requests and, as a result, mostly all large audit firms use them. When using electronic confirmation requests, audit firms typically rely on a third-party intermediary to provide a secure technological platform to transmit information between the bank and the auditor as well as to validate the authenticity of the respondent. In requiring you to electronically confirm cash balances using a third-party intermediary, this case provides an opportunity to improve your understanding of current audit practice, strengthen your technical knowledge of applicable standards, and develop the professional judgment skills necessary to appropriately evaluate and document the persuasiveness of audit evidence. Keywords: Electronic cash confirmations, substantive tests of details, cash, SOC reporting Forthcoming in Issues in Accounting Education Case Requirements Assume that you are a new audit associate assigned to Simply Soups Inc. The engagement manager has given you the responsibility of confirming the cash balances of Simply Soups Inc.'s bank accounts using electronic confirmations. Putnam and Jacobs LLP relies on edu.Confirmation.com to process confirmations. Confirmation.com, which built edu.Confirmation.com, is a web-based audit confirmation solution that is relied on by over 10,000 accounting firms in more than 100 countries, bringing efficiency and security to the confirmation process for cash, debt, accounts receivable and more than 40 other confirmation types. To complete the testing of cash balances by using electronic confirmations, you are now required to perform a series of audit procedures and conclude on the audit step entitled \"Confirm Cash Balances\". Exhibit 4, below, provides key information that you will need to confirm each of the Company's six bank accounts. [Insert Exhibit 4] Ultimately, to conclude on the audit step entitled \"Confirm Cash Balances\Audit Staff I Tasks 1. Set up the client 2. Enable \"Sharing\" with your team 3. Add the 6 bank accounts 4. Request Authorization Code approval 5. Initiate first confirmations 6. Initiate second confirmations/reconfirmations (if necessary per audit staff II's review) 7. Complete the Audit Procedure Checklist Audit Staff II Tasks 1. Review all completed confirmations 2. Notify Audit Staff I of any discrepancies or issues 3. Review any additional confirmations received 4. Consider whether alternative audit procedures are necessary 5. Document findings on Confirmation Testing Workpaper and Memo 6. Print and submit all deliverables Deliverables 1. Audit Procedure Checklist (D2L, word doc) 2. Confirmation Testing Workpaper (D2L, excel doc) 3. Confirmation Testing Memo (D2L, word doc) 4. Confirmation Log (obtained from your edu.confirmation.com account) 5. All Received Confirmations (obtained from your edu.confirmation.com account) Confirmation Testing Memo To: Audit Manager From: [Student Name(s)] - Audit Staff Date: Re: Simply Soups Inc. Cash Confirmations Purpose of Confirming Cash Accounts: Summary of Testing Results: Confirmation Testing Workpaper Work Paper Reference: 100-3 Prepared By: Date: Account Fifth Federal Sparkasse-Frankfurt American NorthWest Bank BNY Federal Tenth National Bank Bank of Citizens Bank Balance as of 12/31/13 (per client) 508,219.33 A 315,711.76 121,987.17 493,154.12 312,580.29 304,312.43 Tick Legend A - Balances were traced from Bank Reconciliation Testing Does the Initial Confirmed Confirmation Bank Balance tie to the as of 12/31/13 Reconciliation (per bank) ? Action Required Does the Second Confirmation tie to the Reconciliation ? Issues Noted