April 2023
Intermediate to advanced
1056 pages
34h 59m
English
AU-C 505 provides guidance on audit procedures on external confirmations, including:
Source: AU-C 505.06. For definitions related to this standard, see Appendix A, “Definitions of Terms”: Exception, External confirmation, Negative confirmation request, Nonresponse, Positive confirmation request.
The objective of the auditor, when using external confirmation procedures, is to design and perform such procedures to obtain relevant and reliable audit evidence.
(AU-C Section 505.05)
AU-C 330.20 requires the auditor to consider whether external confirmations should be performed, and requires the use of confirmations for accounts receivable unless