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    Cash & account receivable confirmations: auditing standards

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

    © BrainMass Inc. brainmass.com June 4, 2020, 2:39 am ad1c9bdddf

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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 ...

    Solution Summary

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