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Difference between The two

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Y Srikantha Reddy

8 Points Posted on 26 July 2021

What is the difference between the External Confirmation and comparison with Statement of
accounts obtained from External Party?

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This discussion clarifies the difference between external confirmations and statements of accounts obtained from external parties. An external confirmation is generally a certificate, whereas a statement of accounts is a ledger provided by an external party. The common practice is to obtain the parties' ledgers, also known as statements of accounts, for verification.