The Evolution of Auditing and Electronic Confirmation

Posted: September 24th, 2015

The Question:

The Evolution of Auditing and Electronic Confirmations. The AICPA has published a series of White Papers (in part sponsored by enterprises that offer electronic confirmation services) discussing the evolution of auditing. Confirmations are an important, some would say critical, part of the audit process. Your assignment is to read the White Papers. After you have read about confirmations you will then identify where confirmations would be used in the audit of your company. For each audit issue you address, describe a misstatement that could occur and how the confirmation process could best be used to address this audit issue.