Skip to Main Content
Wiley Practitioner's Guide to GAAS 2023, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

by Joanne M. Flood
April 2023
Intermediate to advanced content levelIntermediate to advanced
1056 pages
34h 59m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

17AU-C 505 External Confirmations

SCOPE

AU-C 505 provides guidance on audit procedures on external confirmations, including:

  • how to respond if management refuses to allow them,
  • negative confirmations and responses, and
  • evaluating the results.

DEFINITIONS OF TERMS

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.

OBJECTIVE OF AU-C 505

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)

REQUIREMENTS

REQUIREMENTS IN OTHER AU-C SECTIONS

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

  • to do so ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Wiley Practitioner's Guide to GAAS 2022

Wiley Practitioner's Guide to GAAS 2022

Joanne M. Flood

Publisher Resources

ISBN: 9781394152704Purchase Link