Confirmations of bank accounts may help the auditor to determine if material amounts of accounts receivable have been pledged or discounted.

Name: Confirmations of bank accounts may help the auditor to determine if material amounts of accounts receivable have been pledged or discounted.
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Question

Quizplus · Accepted Answer

Confirmations of bank accounts can provide the auditor with information about any pledges or discounts of accounts receivable which can help them determine the accuracy and materiality of such transactions.

Confirmations of Bank Accounts May Help the Auditor to Determine