Explorer

To test certain significant accounts the firm's substantive procedures included confirmation of the balances. The issuer sent the confirmation request on behalf of the firm and received the response directly from the recipient of the request. The firm did not maintain control of the confirmation request and response through direct communication with the intended recipient of the confirmation request. (AS 2310.28)

To test certain significant accounts the firm's substantive procedures included confirmation of the balances. The issuer sent the confirmation request on behalf of the firm and received the response directly from the recipient of the request. For one of these significant accounts the firm did not perform substantive procedures beyond comparing the amount to the confirmation to test the valuation of the account. (AS 2501.07)

The firm used positive confirmation requests to test a significant account. The firm did not maintain control of the confirmation requests and responses through direct communication with the intended recipients of the confirmation requests. (AS 2310.28)

The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29)

The firm confirmed a significant account but did not perform procedures to evaluate the reliability of the confirmation including whether additional evidence was needed. Further the firm did not evaluate whether the issuer appropriately recorded the account. (AS 2301.08; AS 2310.33)