Raj, the Secretarial Auditor of Netcap Ltd. wants to seek external confirmations. Guide Raj about the steps involved in obtaining external confirmations.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2021
Raj, the Secretarial Auditor of Netcap Ltd. wants to seek external confirmations. Guide Raj about the steps involved in obtaining external confirmations.
Answer & Explanation:
External confirmation means Audit evidence obtained as a direct written response to the auditor from a third party (confirming party) on paper or electronic media or in any other form. External confirmation seeking steps are: Determine information to be confirmed/requested. Select appropriate confirming party. Design/format confirmation request. Send the request with follow up.
Topics: Secretarial Audit
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