Menu
exam doubt
external confirmation the most effective and efficient way to obtain audit evidence. TRUE OR FALSE.give reasons? CA INTER NOV 2018 question.
Replies (1)
True
Internal confirmation is biased and if proper internal controls are not in place it is not effective at all. So as per SA 505 external confirmations, auditor had to design procedures to collect reliable evidence from third parties to get reliable audit evidence
Recent Topic
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
Related Topics
CAclubindia
