ACCT 540 Lecture Notes - Lecture 5: Audit Evidence, Deliverable, Control Risks
Document Summary
Confirmation testing workpaper and memo student deliverable. Prepared by: aaron lai, sheel doshi, jasmine teu, john tirino, waishan tan (group 4) Reconfirmation required to follow up on discrepancy between amount client recorded and amount bank confirmed. Sorry transposed numbers. and provided us with the correct amount. Simply soups also has a line of credit. Pcaob proposed auditing standard related to confirmation - information obtained via a bank website does not constitute appropriate audit evidence since the client not the bank provided access. Reconfirm to follow up on indirectly received, unsigned confirmation. Assess the risk of confirming the account balance through the bank website, given access was provided by the client. Paper confirmation is received attached to an email from the client (simply. Recognizing the issues with this confirmation, the client offers the auditor access to their account via the bank website.
