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Which Type of Confirmation Is Used More Frequently by Auditors―accounts

question 43

Essay

Which type of confirmation is used more frequently by auditors―accounts receivable confirmations or accounts payable confirmations? Why?


Definitions:

Australian Dollar

The currency of Australia, used as the official legal tender in the country and its territories.

Euro

The official currency of the eurozone, which is a monetary union of 19 of the 27 European Union member states.

American Dollars

The currency of the United States, widely used as a benchmark and reserve currency around the world.

Exchange Rate Gain

A profit resulting from a favorable change in the exchange rate between two currencies.

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