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Cash & account receivable confirmations: auditing standards

Is the confirmation of cash and account receivable required according to auditing standards? Explain.

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Confirmations are one of the basic building blocks of auditing. Evidence obtained from external parties, especially knowledgeable ones, is the highest quality evidence. As such, confirmations are presumed to be part of the auditing process.

As stated in AU 330.34 (attached), indicate ...

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Your tutorial is 166 words plus a reference (auditing standard is attached).

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