Confirmations have their unique uses. I review the standard advising auditors what to consider when using confirmations as a form of evidence.
Warning - a longer video as I discuss the disadvantages of using confirmations and delve into the issue quite deeply.
My ultimate audit video study guide is available here
amandalovestoaudit.com/learning-resources/audit-study-guide/
If you have questions about ASA/ISA 505, add them in the comments below.
Find ASA 505 here www.auasb.gov.au/Pronouncements/Australian-Auditing-Standards.aspx
#StandardsExplained #AuditEvidence #Confirmations #ISA505 #ASA505 #ILoveAudit #Auditing
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