Assignment Instructions/ Description
Instructions » After completing the required readings, complete the weekly assignment pertaining to the confirmation process of accounting records and financial statements. The confirmation process is defined as the process of acquiring and assessing a direct communication from a third party in response to request for information regarding a specific item that impacts an assertion on a financial statement. To complete this week’s assignment, explain the factors that affect the reliability of confirmations. In addition to this, explain the steps that auditors can take in order to ensure that the confirmations that are offered by organizations are reliable. Keep in mind that many fraud cases often involve confirmations offered from organizations to be forgeries. Additionally, auditing standards assert that audits rarely involve the authentication of documentation and that the auditor is not trained nor expected to be an expert in this type of authentication. Lastly, refer to the included financial statements in EarthWear’ Sassiitincineeainimaaats |Clentify
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