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An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to :

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2022-07-02
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An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to :

  1. Provide the data necessary to prepare a proof of cash.
  2. Request that a cutoff bank statement and related checks be sent to the auditor.
  3. Detect kiting activities that may otherwise not be discovered.
  4. Seek information about loans from the banks.
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