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Kim Smith.
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QAZWED
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If a bank issued standard Bank confirmation letter to financial controller of a company, would it result in decline of reliability of evidence?
Kim Smith
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Yes – replies to any “external confirmation request” by the auditor must be received directly by the auditor. The whole point of external confirmation is that it is obtained independently for comparison/reconciliation with documentation held by the entity (e.g. monthly bank statements sent to the entity).
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