30 June 2009
For confirmation, does the auditor directly has to send letters to the parties or the company sends it and asks to reply directly to the Auditor??
30 June 2009
Its not duty of auditor nor of third party. Company will ask for the confirmation letters from the parties, and it is the duty of company itself to produce these confirmations before the auditors.
Its not duty of auditor to take the confirmation from debtors. But also at the same time, they can take the same from debtors as third party confirmation. It may also give the good (correct balance) feel to auditors.
It is duty & core object to auditor to see whether the balance sheet gives true & fair view of financial positions of the entity.
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