Business Finance
Accounting 403 Auditing I

Question Description

I don’t know how to handle this Accounting question and need guidance.

What is the difference between positive and negative confirmation?

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Final Answer

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Positive confirmation refers to an inquiry made in auditing asking the customers of a given client to respond to the auditor on whether the records either they correspond to or not with the records documented by the auditor. On the other hand, negative confirmation refers to a situation whereby the auditor requires the customers to respond if they discover any discrepancy in the auditor’s report and the client’s company.

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