External Confirmations

Send and track external confirmation requests to third parties such as banks, debtors, creditors, and lawyers. Monitor responses and follow up on outstanding requests.

Steps

1. Go to Audit → Confirmations in the sidebar.
2. Click Create to start a new confirmation request.
3. Select the Type of confirmation:
   • Banks — confirm account balances and loan details.
   • Debtors — confirm amounts owed to the client.
   • Creditors — confirm amounts the client owes.
   • Lawyers — confirm pending litigation or legal matters.
4. Fill in the recipient details and the information to be confirmed.
5. Send the request.
6. Track the status of each request: Sent, Responded, or Outstanding.
7. Follow up on requests that have not received a response.
8. Document results — record the confirmed details and note any discrepancies.

Tips

• Send confirmations early in the engagement to allow time for responses.
• Follow up on non-responses within two weeks of the original request.
• Discrepancies between confirmed amounts and book values must be investigated and resolved.
• Keep all confirmation correspondence as part of the audit file.