One of the commonly used substantive tests for cash balances is to confirm the bank balance directly with the bank through a Bank Confirmation Audit Request. What is the difference between the requirements of GS 016.and accepted practice in the industry? Name five of the categories of information requested on a standard Bank Confirmation Audit Request.

Question

Quizplus · Accepted Answer

The Answer of One of the commonly used substantive tests for cash balances is to confirm the bank balance directly with the bank through a Bank Confirmation Audit Request. What is the difference between the requirements of GS 016.and accepted practice in the industry? Name five of the categories of information requested on a standard Bank Confirmation Audit Request.

One of the Commonly Used Substantive Tests for Cash Balances