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Wk 3-2 Please advise Confirmation of accounts receivable is presumptively a mandatory audit procedure. In performing this procedure, auditors use positive confirmation requests or negative
Wk 3-2 Please advise
Confirmation of accounts receivable is presumptively a mandatory audit procedure. In performing this procedure, auditors use positive confirmation requests or negative confirmation requests or a combination of both. Address the following:
- Explain the difference between negative and positive confirmations.
- Describe conditions which should exist for the auditors to use the negative form of request.
- Describe conditions which should exist for the auditors to use the positive form of request.
- If a response is not received to an initial positive or negative confirmation request, describe the action that should be taken by the auditors, including a discussion of alternative auditing procedures.
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