The primary purpose of sending a standard confirmation request to financial institutions with which the entity has done business during the year is to

Question

Quizplus · Accepted Answer

The primary purpose of sending a confirmation request to financial institutions is to corroborate information regarding deposit and loan balances. This helps in verifying and ensuring the accuracy of financial information presented in the entity's financial statements. While the other options may be part of the audit process, they are not the primary purpose of sending confirmation requests.

The Primary Purpose of Sending a Standard Confirmation Request to Financial